A brand is the identity and the face value of a business in the public domain. Your brand is a creation which originated from your mind as an idea, you develop it in the form of a product, service, invention, design, software or anything that is unique to you and then give it a name which becomes a brand. This brand eventually generates financial benefits for your business and takes the form of an asset. Thus, your brand is born from your intellect and hence it is your Intellectual Property (“IP”).
IP plays a vital role in the strategic building of shareholder value in big companies and in the case of start- up companies it is even more significant, as often for companies the only asset to start with is their IP. Therefore, protection of IP is important so as to secure the moral and the financial benefits that are generated from IP intensive assets. We assist our clients in not only identifying appropriate IP but also advise on how to protect them to get maximum advantage.
Businesses in Oman are increasingly aware of the importance of protection of IP Rights. Several of them are taking steps to protect their IP assets but a majority still remain unaware and aloof, failing to understand the value of IP and surrounding risks in a globalised economies. In order to understand the role and impact of IP based assets to your business, it is very important to understand and appreciate the value of IP. There are various scenarios such as joint ventures, merger or acquisitions where an accurate valuation of IP is important to understand the value of IP assets bought and sold. Similarly, knowing the IP value is critical while negotiating a license contract, accurate IP valuation is necessary in arriving at fair estimates in a company’s annual report. Thus, for understanding the actual value of a business, in addition to valuing the tangible assets, IP valuation also plays a major role. To assist the financial team to do that, a legal IP due diligence is required.
Furthermore, IP originators and owners are often unaware and rather relaxed in taking steps to enter in non-disclosure or confidentiality agreements to protect their trade secrets and as such IP issues lie hidden and come to light when a dispute or litigation arises and in most cases by then it is too late to mitigate damages. Our lawyers have experience in handling major IP litigation in different sectors.
In the year 2013, SASLO had an opportunity to contribute a chapter on Intellectual Property in Oman in the Expert Guide for Intellectual Property. In the year 2015, SASLO has been recognised as a winner of Global Awards by Corporate Livewire, UK in the area of Intellectual Property”. SASLO has also been recognised by Zubair Small Enterprise Center in Oman for training and empowering Omani Entrepreneurs in the areas relating to IP .
We assist our clients with the following:
advising on the documentation work/procedures relating to and prior to registration of the Trade Marks;
Advising on the copyrights matters and requirements and procedures for obtaining industrial designs, patents;
Advising on assignment and licensing of trademarks;
Drafting of legal notice/caution notice for infringement of intellectual property rights of various parties,