Jurisdiction(s):
United Kingdom

Key definition

Intellectual property definition

What does Intellectual property mean? Intellectual property describes intangible legal rights in creative, technical and branding outputs used and enforced in commercial practice, often abbreviated to IP or IPR. In the UK and Ireland the term is descriptive rather than a single statutory definition; discrete rights arise under specific regimes, typically including copyright, patents, trade marks, registered and unregistered designs, database right, trade secrets and confidential information, and the common law tort of passing off. These rights are territorial, generally time‑limited (trade secrets/confidential information can subsist indefinitely if secrecy is maintained), and confer exclusive rights that can be licensed, assigned, charged as security and...

Asset purchases: IP due diligence, assignments and licences, shared IP, warranties, indemnities, disclosure and liability caps

Published by a LexisNexis IP expert

Practice notes

This Practice Note concentrates on the Intellectual property (IP) rights dimensions of asset purchase deals, alongside broader, routine questions that frequently arise in the asset purchase context and in related transactional planning. The analysis is primarily from the buyer’s standpoint, while also signposting seller-focused concerns where appropriate and timely. For a comprehensive checklist of points to review, see Asset purchase transactions—IP issues—checklist, which collates the principal items. The Note spotlights issues relevant to buying assets within a business that holds valuable IP, rather than the takeover of a technology, software or web-based enterprise (where IP sits at the heart of the operation and would necessitate a fuller suite of IP‑specific enquiries and protections tailored to that model). For tailored guidance on acquiring a software business, see Practice Note: Buying a software business—key considerations, and for further discussion of IT matters within corporate transactions, see Practice Note: Corporate transactions for technology lawyers.

Asset purchase or Share purchase?

In many ways, the steps and considerations will mirror each other whether the target is shares or assets. However, there are notable distinctions, which are highlighted, where relevant, below in this Note and explained briefly too...

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Web page updated on 21/05/2026

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