However, even where businesses have failed, their brands have survived. For example Topshop and Topman were bought by ASOS for 330 million, with the deal meaning the survival of their brand names while the physical stores closed down.
Those in the fashion industry need to evaluate and assess their intellectual property (IP) assets and licensing agreements to ensure they are adequately protected from the risks posed by insolvencies.
This means assessing who owns the IP and what is required to continue to operate a business: what happens to branded stock if a company fails? Who bears the risk of an insolvency? Can a business place its IP outside the trading business to derisk it, in the event that the trading arm runs into difficulties?
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Read the full article at: https://www.pinsentmasons.com/out-law/analysis/fashion-businesses-should-assess-ip-rights-in-light-of-covid-19-challenges
