cfi-The Look and The Law Aug 09:The Look, The Law & The Knowledge 2009 07/09/2009 13:55 Pag
Alternatively or additionally to debt financing, you might be able to obtain equity
investment in your company. In exchange for investment, an investor will ask for
shares in the company and may also insist on having consent rights in relation to
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key decisions or indeed any decision. The extent of control required is usually
proportionate to the extent of any investment made.
Contracts
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ONS
Whichever trading vehicle you choose, there are a range of contracts that will need
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L to be put in place for your business. These will include standard terms and
conditions of sale or supply; contracts to buy-in services; assignment of rights and
manufacturing agreements.
Such contracts are usually essential to ensure the smooth running of your business
VENPOR and need to be prepared carefully from the perspective of what you are seeking to
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achieve and to offer some legal protection.
LOOKING AFTER YOUR CREATIONS
Intellectual Property rights – also known as “IP” rights – are essential for every
designer.
What is IP? Essentially, an umbrella term for a number of separate legal rights which
aim to protect innovation and the expression of creative concepts or ideas. There
is no protection in an idea – it is the expression of the idea or concept that attracts
IP protection.
What are these IP rights? Mainly the following:
• Trade Marks
• Designs
• Copyright
• Patents
They are often the “asset” behind every successful designer, akin to physical or
“real” property. They can be absolutely key to giving designs a real tradeable value
and in protecting against plagiarists.
IP law is often overcomplicated, and we set out below a brief introduction to each
of the key IP rights, as they apply to designers, in each case giving:
• A basic summary of what the right is;
• How it might apply to your business in practice; and
• Any key points (good or bad) to note.
General points to bear in mind:
• Not all IP has to be “registered” (sometimes mistakenly referred to as being
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