It does not matter if you are buying, selling, leasing, or developing commercial real estate. This is because, regardless, you must protect your intellectual property rights all while ensuring you are not infringing upon that of another party. Continue reading to learn how to protect your rights in a commercial real estate transaction and how an experienced New Jersey intellectual property litigation lawyer at The Ingber Law Firm can step in if any issues arise.
What are common intellectual property issues that may arise in a commercial real estate transaction?
The intellectual property issues that arise in commercial real estate transactions typically pertain to trademarks and copyrights.
Firstly, you may have trademark protection over your company name, but you may not have a trademarked name for your building in connection with the services it offers. For example, the Chrysler Building in New York City has a registered trademark for its use in connection with leasing office space and attendant services to tenants.
Secondly, you may disagree with who owns the copyright for the building plans in which your business is set to operate. Generally, the architect may own the copyright for the building plans, which may last for their lifetime plus 70 years. However, this may vary if the architect was one of your employees and the building plans were within the scope of their employment.
Lastly, you may disagree with who owns the copyrighted material within a commercial real estate listing (i.e., photographs, virtual tours, floor plans, architectural drawings, listing descriptions, etc). Usually, these rights remain with the creator, but it is difficult to say when a written agreement is not drawn up beforehand.
In what ways can I protect my intellectual property rights in a commercial real estate transaction?
Evidently, one of the most effective ways in which you may protect your intellectual property rights in a commercial real estate transaction is by acquiring legal representation. This is because a seasoned lawyer may assist you in the following tasks:
- A lawyer may assist you in applying for the trademarks and copyrights necessary before following through on this transaction.
- A lawyer may assist you in selecting an intellectual property insurance coverage plan necessary before following through on this transaction.
- A lawyer may assist you in reviewing and interpreting the terms outlined in the documents necessary to sign for this transaction.
- A lawyer may assist you in drafting and negotiating the contracts and agreements necessary to enforce in this transaction.
- A lawyer may assist you in any future disputes or litigation that arise due to this transaction or its contracts.
For your litigation proceedings, please consider contacting a skilled Essex County, New Jersey intellectual property lawyer. Our team at The Ingber Law Firm is ready and willing to assist you.