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It may not be one of the primary matters you think about when you’re engaging in commercial real estate transactions, but you really need to do your best to protect your intellectual property rights during every deal. If you are not sure about how to do that or what kinds of risks you can end up facing, you should talk to a Long Island, NY real estate closing lawyer. An experienced attorney from our firm can tell you more about what you should look out for.

What Are Some Common Intellectual Property Issues in Real Estate Transactions?

Most of the problems you’ll run into in this industry relate to trademarks and copyrights. You should be especially careful of intellectual property issues like:

The copyright for the building: There can sometimes be disagreements about who owns the building plans. If your business is going to be set up in a building, this is a conflict you should address. The architect can own the building plans, but if they were working for you it’s likely that the IP is owned by your firm.

Trademarks for your company: People often trademark a company name, but you also have to have a trademark for your company that connects with the services you offer. If you are renting out offices or other space to tenants, you should trademark the building and the services it “offers.” Good examples of this are buildings like the Empire State Building® and Sears Tower®, both of which are registered trademarks.

IP in the property listing: A real estate listing can include photos, floor plans, architectural drawings, and more. You should make it clear that this is all intellectual property and that it belongs to you.

How Can I Address These Intellectual Property Issues?

The best way to address these issues is to head them off before they can become problems. You should make sure that you have all of the copyrights and trademarks needed to protect your intellectual property before going through with any deals. You should also make sure that contracts are clear about who owns what in a given transaction.

Do I Need an Attorney?

An attorney can help you identify potential intellectual property issues and address them. If you are busy running your business and trying to make commercial real estate deals, you could miss small things that can end up causing larger problems for you later on. Do your due diligence and have an experienced attorney go over any deal you make with you. Once you can be sure that your IP is protected, then you can sign and move forward.

Reach Out to Our Law Firm Today

If you have any questions about intellectual property issues in real estate, we can do our best to answer them. Contact David A. Gallo & Associates LLP to schedule a consultation with our team. Do not let a small oversight become a major issue for your business.