Myths about IP
Fiction: IP rights are not valuable assets which can be used to provide proper lending security
Fiction: I am a shareholder of a company and I create IP. All my IP belongs to that company.
Fiction: When a person leaves a job, he or she cannot subsequently get employment in a firm which competes with his or her previous employer.
Fiction: If my business partner fails to fulfil agreements regarding the running of our business can I exclude him or her from the business?
Fiction: I have my company in place with good prospects. Why won’t venture capitalists invest in me?
Fiction: IP is an intangible asset. There are no revenue consequences of moving it about.
Fiction: IP does not show up in the accounts of a business.
Fiction: Banks do not recognise IP and will not lend against its value.
Fiction: It is necessary to register all IP rights before there is any entitlement to any IP protection.
Fiction: Formal IP rights are only granted for products that can be manufactured.
Fiction: IP laws favour larger corporations.
Fiction: Only large corporations bother with IP rights because they are so expensive to obtain.