James Corlett, a solicitor at Kirwans which has offices across Merseyside, said that businesses will have to take action in these areas in order to both protect themselves and exploit opportunities as they arise.
James said: "A lot of businesses are developing their own brand or are involved in innovation in some way, and it is crucial to protect any innovation that could be termed as ‘intellectual property'.
"We are seeing an increase in businesses who want to register trademarks or take the necessary legal steps to protect their brands. This is particularly important for business owners who are considering selling or franchising their business, as they need to make sure their assets are in order before they proceed.
"When it comes to intellectual property, or IP, some companies aren't taking sufficient measures to protect or exploit it, and only realise once an infringement has occurred that they could have taken advance legal measures to stop it. Many business owners are unaware that it adds value to the business that wouldn't necessarily be there, so in terms of the overall commercial strategies it can be particularly important."
James also predicts that more and more SMEs will ‘dress their business up' for sale in 2012, as we begin to see a trend in businesses' seeking legal advice to sell a business or to diversity in other areas. Finally, the next 12 months will see an increased focus on protecting personal data according to James.
He said: "Personal data and the ways in which it is used is increasingly becoming an issue for businesses, and I expect to see it becoming a particularly hot topic in 2012. It is fair to say that following the recent phone hacking scandal, which received unprecedented levels of public interest, the importance of data protection has been brought into the spotlight.
"There are certain rules and regulations in place regarding the protection of personal data that companies must have a sound knowledge of. Unfortunately the misuse of data can occur, and what is important is that businesses have the correct safe guards and compliance procedures in place to ensure they are operating correctly for peace of mind.
This need for privacy will only increase with the Cookie Law coming into force in May. This Cookie Law is amended privacy legislation that requires websites to obtain informed consent from visitors before they can store or retrieve any information on a computer or any other web connected device.
"My advice to businesses would be to ensure they get the necessary advice in order to ensure they are equipped with the most up-to-date information on these topics, which could keep them out of hot water as they take on greater prominence in the year to come."
James Corlett, Solicitor at Kirwans
For more information please call Rachael Tinniswood on 07846 406487 or Peter Harvey on 07825 886809.
