This July and August in the TechTribe Community we focused on everything IP for Start-Ups hosted by Von Seidels, world leading IP attorneys.
We closed off this theme on 31 August 2021, with an informative IP Masterclass titled ‘Getting Your IP Investment Ready’ with patent attorney, Ralph Van Niekerk.
In the masterclass, Ralph looked at the key IP issues that investors consider when deciding whether to invest in a business and went through a strategic framework for entrepreneurs to make use of for preparing for an IP due diligence.
There are certain steps that are important to take when it comes to getting your IP investment ready. These are the types questions an IP attorney will ask you when assisting you with this:
It is important to keep a data room of all your IP.
Two key things to note:
Record all company, rights, and obligations in writing
Keep agreements in data room.
If you do R&D, have a process for identifying and protecting the output.
Have a standard employee contract which includes IP and confidentiality clauses.
Restraint of trade clauses may be appropriate but should be used with caution.
Ensure all developers are either employed or are under consultancy agreements that include IP and confidentiality provisions.
Ensure your commercial exploration of the software does not interfere with the OS license items.
Have appropriate data security processes.
Von Seidels is an intellectual property law firm specialising in patents, trade marks, copyright, designs, trade secrets, licensing, and related areas of IP throughout Africa. Based in South Africa, Von Seidels also has offices in ARIPO (Namibia), OAPI (Cameroon) and Nigeria.