By Martin Arnold, Accelerated Growth Programme Gold Partner
Your brand, your designs, your innovations - they're among your most valuable business assets. Yet many growing businesses in Wales are making critical IP mistakes that could cost them thousands, or worse, their competitive edge. Here, IP specialist Martin Arnold from WP Thompson, an Accelerated Growth Programme (AGP) Gold Partner explains the six costly errors to avoid.
1. Assuming your Business Does Not Have IP
Many businesses, start-ups and established alike, underestimate the IP they create. Beyond obvious assets like branding and product design, valuable IP can often be found in processes, proprietary software and confidential know-how.
Action step: conduct an IP audit to identify the IP within your business. An IP audit is a structured review of your business's IP assets and existing IP portfolio, helping uncover value and identify risks, such as unprotected innovations.
2. Ignoring the Value of your IP
Recognising IP without appreciating its worth is a missed opportunity for businesses of any size. For start-ups, a strong IP portfolio can instil investor confidence, open licensing opportunities and generate revenue. For established companies, a strong IP portfolio can enhance valuation, secure IP-backed business loans and strengthen global market competitiveness.
Action step: Protect what drives your income. Register trademarks for brand-heavy businesses and secure patent and design rights for product-based companies.
3. Disclosing Your IP
Another very common IP mistake is disclosing your IP before you have considered the appropriate action, such as registering it or keeping it secret. This is particularly relevant for patents, which can only be granted if your innovation has not been disclosed to the public before it was filed. Conferences, publications, promotional materials and early sales count as disclosure.
Action step: have an IP policy in place that all employees are aware of and consider your IP portfolio before any publication.
4. Delaying Trademark Registration
A trademark (RTM) is registered legal protection for your brand name, logo, or slogan, ensuring only you can use it in connection with your products or services.
Many founders and even established businesses assume they can register their brand later, or rely on unregistered rights such as passing off, but this can be risky. Competitors or opportunists may file first, leaving you unable to use your own brand name, forcing costly rebranding.
Action step: Speak to an IP professional about registering trademarks to protect your brand, whether you're still refining your business or an established company.
5. Ignoring IP in Contracts
Partnerships, collaborations and supplier agreements often involve sharing ideas. For start-ups, this might occur during early product development with university researchers or consultants. For established businesses, it can happen in joint ventures, licensing deals, technology integration projects, or when working with global suppliers. Without clear IP clauses in agreements, you risk losing control and ownership over innovations, branding, or know-how.
Action step: Always include IP ownership and confidentiality provisions in contracts. Define who owns improvements and what happens if the relationship ends.
6. Overlooking International Protection
Whether you're a start-up planning global growth or an established company outsourcing production, UK-only protection is insufficient. Competitors abroad can copy your brand or technology without infringing any UK IP rights.
Action step: Identify your key markets, manufacturing bases and customer locations. File international applications early, especially for trademarks and patents.
Your IP strategy shouldn't be an afterthought. From your first trademark application to international protection, getting expert guidance early can save you thousands and protect your competitive advantage. These six steps will help you avoid the most common pitfalls - but if you're unsure where to start, professional support can make all the difference.