First ownership meaning

How to use this checklist This checklist sets out the key points to consider when seeking to exploit your IP rights in the UK. It is split into four separate checklists-the first addresses how to shape an IP strategy and efficiently manage your IP rights, the second details the principal steps when assigning an IP right, the third covers how to licence your IP, and the fourth provides guidance on granting a security over your IP right. It is intended to be used alongside Practice Note: How to exploit your IP rights... Checklist for exploitation of IP rights-strategy and management The third column can be used to record observations or comments as the checklist is worked through... Checklist Further information Notes (if any) Preliminary steps ☐ Establish ownership of the IP right To exploit an IP right, you must either own the right or have the owner’s permission to use it, for example...

Use this Checklist when considering and reviewing a registered title as part of the due diligence process. It presumes the title is being assessed in the context of a proposed purchase of the property; however, identical considerations arise when due diligence is undertaken in relation to taking a registered charge over the property, or when negotiating and entering into a new lease of the property. For land that is unregistered, refer to Practice Notes: Deducing title to unregistered land—compulsory first registration, party to register, evidence of title, good root of title and unbroken chain of ownership; and Deducing title to unregistered land—stamp duty, mortgages, execution of documents, missing title deeds, sales of part and other considerations. Have official copies of the register and plan been provided? Official copies—register and plan For registered land, title is shown by supplying current official copies of the register and plan. They must be obtained from HM Land Registry, either by: sending a paper form using the...

In this issue: UK mergers UK antitrust UK subsidy control UK competition policy EU antitrust EU mergers EU State aid EU market studies New and updated content Daily and weekly news alerts Caselex UK mergers Government consults on further changes to the draft Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) (No 2) Regulations The Department for Culture, Media and Sport (DCMS) has published a consultation on proposed further amendments to the Enterprise Act 2002 (Mergers Involving Newspaper Enterprises and Foreign Powers) Regulations 2025 (the Regulations). Through changes to the Enterprise Act 2002, the Digital Markets, Competition and Consumers Act 2024 introduced a foreign state intervention (FSI) regime for newspapers and periodic news magazines, preventing foreign state ownership, control, or influence over these publications. The Regulations carry forward the government’s decision to provide narrow exemptions to the FSI framework. Under the proposals, defined state-owned investors (SOIs) could hold up to...

In this issue: Business structures Taxes management and litigation Employment taxes Companies and corporation tax VAT Environment Individuals and income tax Dates for your diary Trackers Daily and weekly news alerts New and updated content Latest Q&A Useful information Business structures Court of Appeal upholds UT and FTT decisions that incentivisation awards to partners are subject to income tax (HMRC v BlueCrest Capital Management LP and others and Andrew Dodd and others v HMRC) As noted below, in HMRC v BlueCrest Capital Management LP; and Andrew Dodd v HMRC [2023] EWCA Civ 1481, the Court of Appeal examined the tax position of awards granted to partners under an incentivisation scheme. It affirmed the rulings of the First-tier Tax Tribunal (FTT) and the Upper Tribunal (UT) that, although the awards were not profit share allocations, they still represented income and were chargeable to income tax as miscellaneous income under section 687...

In this issue: Budgets and Finance Bills UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Family businesses and ownership structures Contentious trusts and estates Pensions, insurance and tax efficient investments International Question of the week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Trackers Latest Q&As Useful information Budgets and Finance Bills Finance Bill 2026 published Finance (No 2) Bill 2024–26 was released on 4 December 2025 with explanatory notes. Also known as Finance Bill 2026 (FB 2026), it was presented in the House of Commons and received its first reading on 2 December 2025. For insights into the principal Private Client measures in FB 2026, see News Analysis: Private Client—publication of Finance Bill 2026. For commentary on the key Tax provisions, see News Analysis: Tax—publication of Finance Bill 2026. For comprehensive tracking of FB 2026—covering a...

People with significant control (PSC) regime The architecture of the people with significant control (PSC) regime, which first commenced on 6 April 2016, is contained in Part 21A of the Companies Act 2006 (CA 2006). Its purpose is to tackle worries about the lack of transparency in corporate ownership, where historically the register captured only the legal holder of shares, not always the beneficial owner. By requiring a PSC register, more precise and up‑to‑date details are available about who ultimately owns and directs companies and other bodies, and this information is made public via the central register at Companies House and remains accessible to the public. It assists prospective investors in their decision‑making. It likewise aids law enforcement bodies with money laundering enquiries. LLPs formed under the Limited Liability Partnerships Act 2000 must keep a record of persons with significant control over the LLP under the Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016, SI 2016/340 (the LLP Regulations), as amended by the Information about People...

Non-fungible tokens, or NFTs, have surged into prominence in recent years. Sectors from art and gaming to finance and media have adopted them, with brands like Starbucks weaving NFTs into loyalty programmes to show real-world commercial utility and the scope to spread into other fields. They already power everything from event tickets to artworks and digital assets minted and resold in the ‘Metaverse’. This Practice Note reviews the legal and regulatory challenges NFTs have encountered and could yet face, and addresses: Understanding NFTs Using NFTs Dealing with NFTs Intellectual property rights and NFTs Licensing NFTs Are NFTs regulated? NFTs and money laundering NFTs and tax Consumer law and NFTs Advertising regulation Data security NFTs in the court room Key practical questions to be considered in any NFT project Understanding NFTs Real-world applications of NFTs There is a constantly shifting roster of celebrated and notorious NFTs. Beeple’s ‘Everydays: The First...

Sources of rights and responsibilities for flood management and drainage The legal framework governing flood management and drainage originated in the nineteenth century within land law. Back then, these issues were treated as private matters to be resolved between neighbouring owners. Over time, policy shifted to acknowledge flooding as a collective challenge, with public bodies now central to preventing and managing floods for communities. Even so, many core rights and obligations concerning flooding and drainage still attach to, and pass with, ownership of land. Landowners therefore need a clear grasp of their rights and duties in this area. Indeed, when a flooding dispute emerges, landowner rights and responsibilities are often the first point to consider. This Practice Note sets out the principal sources of those rights and responsibilities for flood management and drainage, together with the key considerations for landowners. Restrictive and positive covenants When considering the rights and responsibilities of landowners for flood management and drainage, the starting point is the title register or other title...

Date provision Substitute the date clause in the share purchase agreement (SPA) with the following updated wording to read: This Agreement is delivered on [ insert day and month ] 20[ insert year ] Recitals Recital (B) Remove ‘legal and beneficial’ from Recital (B) entirely. Definitions Revise the following existing definitions set out in clause 1 (Definitions and interpretation) of the relevant precedent SPA (where used in the SPA): Definition of ‘Business’ Replace ‘the City of London’ with ‘[ Edinburgh OR Glasgow OR Aberdeen ]’ instead. Definition of ‘CRTP’ Replace the definition of ‘CRTP’ with the following new definition: CTPRS means Contract (Third Party Rights) (Scotland) Act 2017; Definition of ‘Encumbrance’ Delete ‘assignment’ immediately preceding ‘right of first refusal’, as Scots law uses assignation rather than assignment. Delete ‘legal or equitable’ immediately preceding ‘third party right’, as Scots law does not recognise this separation of ownership...

The Contract consists of the finalised SBCC Standard Building Contract with Approximate Quantities (Scotland) 2016, subject to these amendments: RECITALS Fifth Recital Remove the Fifth Recital and replace it with: ‘The Contractor has provided the Architect/Contract Administrator with a master programme and a Schedule of Information Requirements.’ Twelfth Recital Delete the first sentence and substitute: ‘The Contractor has inspected the Site and satisfied himself as to its dimensions, location and other relevant matters, and, where there is a Contractor’s Design Portion, has examined the Employer’s Requirements and is satisfied that the Contractor’s Proposals will meet the Employer’s Requirements, and has agreed to accept responsibility for the entire design contained in the Employer’s Requirements and the Contractor’s Proposals.’ ARTICLES Article 6 At the conclusion of Article 6 add: ‘The Tender Price includes the Contractor’s price for carrying out the duties of Principal Contractor.’ Article 8 Arbitration Delete Article 8 and insert ‘Not used.’ Article 11 Add a new Article...

Date [ date ] Parties [ name of first joint tenant ] of [ address ] [ name of second joint tenant ] of [ address ] (collectively known as the Trustees) background (A) The Property set out in the Schedule (Property) is held by the Trustees on trust for themselves as tenants in common in equal...

Section 171B of the Town and Country Planning Act 1990 Under this provision, a failure to comply with a planning condition becomes immune from enforcement once ten years have elapsed from the date the breach first arose. Thereafter, the continuing lawfulness of that breach can be demonstrated by applying for a Certificate of Lawfulness. Whether an agricultural occupancy condition has been contravened depends on the particular facts and the exact wording of the condition. Although we have not located case law squarely on whether ownership of a farming enterprise constitutes being employed in agriculture, related authorities show the courts have taken a broad, liberal view of agricultural occupancy conditions when concluding that no breach has occurred...

A caution against first registration A caution against first registration safeguards an interest in the unregistered land in question. If an application is lodged to register that land for the first time, HM Land Registry will serve the cautioner with formal notice of the application. Any individual asserting ownership of an estate in land, a rentcharge, a franchise, or a profit a prendre, or holding any interest affecting such a legal estate, may enter a caution. A caution against first restriction only grants the entitlement to be informed of an application for first registration and to object to any such application...