I love my job. It's the best job in the world.

I work in the most exciting area of law that exists today -- intellectual property. It is an area that affects every business of any substance on this Island.

As we advance into the information age, intellectual property will have an even more important role to play in the global economy. For a business to prosper in this age, it must identify, protect and exploit its intellectual property.

The areas of intellectual property that most people will be familiar with are trade marks, patents, copyright and trade secrets. These are terms that will become increasingly familiar to business people, particularly those who operate through the Internet.

Trade marks may be registered or unregistered. Any business on the Island may operate using a trade mark, which can become a valuable asset that may be sold to others or put into a company's balance sheet.

Although they can be valuable assets, many businesses appear to be quite cavalier with this most basic form of intellectual property. The most common error, which is made even by large businesses with knowledgeable staff, is a failure to register the mark.

As a general rule registration should be made in every jurisdiction in which the mark is used. Whilst the use of a mark on the Internet in theory `uses' the mark worldwide, it is not necessary to register the mark similarly.

There are usually a number of key markets that a business is concerned with and registration should be limited to those markets.

Some businesses choose marks that will never acquire any rights as they are descriptive of the goods or services that are sold. An example of this would be a company that sells onions grown in Bermuda calling its goods `Bermuda Onions'.

Others do not take action when they see others using the same or similar marks. This lack of action can be costly, as it can result in a business losing its right to use the mark.

When you consider how valuable a trade mark can become (e.g. Coca-Cola) it is worthwhile taking the time and effort to protect it.

Patents, which protect original ideas, are applied for sparingly in Bermuda.

The application process is a difficult one, and generally happens outside Bermuda because the island is not a signatory to some of the international intellectual property treaties.

It is hoped that this will change as Government is currently reviewing all of Bermuda's intellectual property legislation in order to bring it into line with current international practice.

Whilst patents protect ideas, copyright protects the expression of those ideas.

It is a common misconception that one must register a work in order to qualify for copyright protection. This is not correct. Copyright protection arises as soon as the work is created.

So, for example, this article was protected the moment it was written. As I wrote it in the course of my employment with Appleby Spurling & Kempe the ownership lies with the firm and The Royal Gazette has been granted a licence to print it by them.

Whilst copyright is a powerful form of protection it is commonly abused because of the difficulty in identifying breaches and the lack of awareness as to what is permitted.

Many people copy computer software illegally; copy music downloads off the Internet; copy manuals at work etc. All these examples are often a breach of copyright for which there can be a claim for damages.

Trade secrets are another powerful form of intellectual property. Protection for disclosing trade secrets has been much in the news in the United States recently due to all the dot.com companies losing staff to competitors.

Employers may discover that a great deal of valuable information can be lost this way unless action is taken promptly.

Businesses that have information (and many do in the form of client lists etc.), which is regarded as confidential, should ensure that their employees are aware of its confidential nature and that they are bound not to disclose it. Injunctions and claims for damages can be taken in the event of a breach.

Putting a restrictive covenant in an employment contract is quite common in the US The situation in Bermuda is very much different with such a clause being subject to a test of reasonableness.

As the island is so small it would be unlikely that a clause preventing an employee from working in a similar job on the island for any period would survive in Court, let alone a clause that purports to make such exclusion for a wider area. The Court of Appeal spelled this out in a 1998 case dealing with a Bermuda-wide restrictive covenant.

Intellectual property will gain in importance as the world economy reaps the benefits of the `information age'.

As businesses rely more heavily upon information and its use to achieve a market advantage, so they should look to intellectual property law to protect this valuable and intangible asset.

*** Attorney Graham Wood is a member of the Information Technology and Intellectual Property team at Appleby Spurling & Kempe. Copies of Mr. Wood's columns can be obtained on the Appleby Spurling & Kempe web site at www.ask.bm.

This column should not be used as a substitute for professional legal advice.

Before proceeding with any matters discussed here, persons are advised to consult with a lawyer.