Intellectual Property – the invisible asset that can make or break an SME
Over the past two months, we’ve explored the world of intellectual property (IP) through the business advisor’s eyes: what it is; why it matters; and how accountants, consultants, and corporate advisory teams can help their SME clients use IP to it’s full advantage.
This final article brings those insights together, offering a clear summary and some practical next steps.
The core message
Every SME owns intellectual property whether that’s a brand name, a unique product design, original content, or a technical innovation. But too often, these assets are:
- Missing from the balance sheet (and therefore undervalued);
- Left unprotected (and therefore vulnerable);
- Underutilised (and therefore not generating the revenue or growth they could).
As a trusted advisor, you’re in the perfect position to change that.
The five big lessons
1. IP is the most valuable asset you can’t see in the accounts
IP may not appear on the balance sheet, but it can drive brand loyalty, market share, and profit. Ignoring it is like ignoring the foundations of a building.
2. The cost of doing nothing can be devastating
Infringement, brand loss, and copycats can undo years of hard work. The legal cost of fixing the problem later is far higher than the modest cost of protecting IP early.
3. IP isn’t just defence – it’s a growth tool
With the right protection in place, IP can open doors to new markets, generate licensing income, attract investors, and increase business valuation.
4. Different assets need different protections
Trade marks, copyright, design rights, and patents each protect specific things. Have confidence to ask the questions knowing Barker Brettell can support your clients for the next step.
You often see your clients’ plans before anyone else. That means you can flag risks, highlight opportunities, and connect them with the right legal support before problems arise.
The advisor’s action plan
To bring IP into your client conversations, you need to ask the right questions:
What makes your business stand out? (Brand, product, process, content)
How would you feel if a competitor copied it tomorrow?
Is it protected – and if not, why not?
Once you’ve identified potential IP, why don’t you continue the conversation by contacting one of the authors, Rosalyn Newsome or Oliver Pooley, who will be happy to answer your questions.
Because protecting IP isn’t just good legal sense, it’s good business, for both you and your clients.
