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After the 90-year-old chain store ceased trading, its IP portfolio fell into the hands of insolvency practitioners. Emma Kennaugh-Gallacher of Mewburn Ellis explains what happens next.
When a large, long-standing business such as Wilko goes into administration, it can be difficult to immediately identify its intangible IP assets. It is much easier on the other hand to spot its valuable physical, tangible assets such as product stock and real estate.
In contrast to companies with an IP focus (such as is the case for research and development driven pharma and biotech entities), Wilko’s business was retail and so not overly IP-heavy. As is common with other high-street chains, the majority of Wilko’s IP assets were brand-related trademarks that had, over the company’s 90-plus-year lifetime, accrued significant goodwill and value.
While it may be harder to spot at first glance, IP is often a crucial asset when it comes to insolvency proceedings and must not be overlooked.
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Wilco, insolvency, administration, retail, store, IP assets, portfolio, patents, trademarks, copyrights, Insolvency Act, practitioner
