Trademarks—Claim and Protect Them!Trademarks—Claim and Protect Them!

Originally Published MX March/April 2003

GOVERNMENTAL & LEGAL AFFAIRS

Vigilant policing may be necessary to prevent loss of valuable IP assets.

Margaret C. McHugh

Medical device companies' highest priority when it comes to protecting their intellectual property is generally their patents—and reasonably so. However, trademarks and company names can be equally valuable to those companies, and equally important to protect. Trade names like VISX, Medtronic, and C. R. Bard, for example, mean something in their markets.

Moreover, if they do not properly attend to their company names and trademarks, device companies can encounter serious problems when they bring their products or services to market, sell their shares publicly, try to have their shares listed on an exchange, undertake due diligence for the purpose of fund-raising or acquisition, or enter into any number of important corporate transactions. Deficiencies in trademark maintenance can damage a company's value to potential investors, interfere with possible partnership arrangements, and create unnecessary legal risks.