Most small businesses don't carefully document intellectual property ownership (code, content, designs, processes). When disputes arise (co-founder splits, employee departures, acquisition due diligence), unclear IP ownership creates significant problems.
What to document
All IP created by founders or employees as 'work for hire' under employment or contractor agreement. Specific IP assignment language in contracts. Trademark applications for brand. Patent applications for genuinely novel inventions. Copyright registration for substantial content.
Cost is modest; benefits compound
Trademark registration: £170-200 per class via gov.uk. Specific IP contracts: solicitor-drafted templates £500-2000. Saves dramatically more when disputes arise.