Intellectual Property Research Group

On to new horizons for IP Research Group Founder

After almost 18 (mostly lucky) years, my time at Nottingham Law School, Nottingham Trent University is coming to an end. I will be leaving the university at the end of July. I would like to thank all my colleagues in the School, and across the University. It has been my sincere privilege to work alongside you as Associate Professor of Law over the years. Your dedication and commitment to the legal and IP communities is truly inspiring. I know you will continue to do impressive things.

I wish to thank all the members of the Intellectual Property Research Group that I founded in 2010 (see https://www.ntu.ac.uk/research/groups-and-centres/groups/intellectual-property-research-group). I have enjoyed seeing how far we have come. The extent of our reach in the IP and innovation research field is incredibly rewarding.   IP Research Group members have collaborated with numerous external organisations, professional bodies and institutions including:

Canadian Business Development Bank, Montreal (BDC)

Centre for Marine Ecological Resilience and Geological Resources

Chartered Institute of Patent Attorneys (CIPA)

Daughters of Themis Business Law Scholars

European Accounting Association (EAA)

European Intellectual Property Teachers’ Network (EIPTN)

European Union Intellectual Property Office (EUIPO)

Intellectual Property Awareness Network (IPAN)

Intellectual Property Regulation Board (IPREG)

International Financial Reporting Standard-EAA Intangibles Research Group

Norwegian Industrial Property Office

Nottingham Business School, Nottingham Trent University

UK Intellectual Property Office Research Experts Advisory Group (REAG) working group

US Center for Intellectual Property Understanding

Institute of Trade Mark Attorneys (ITMA) to create the Professional Certificate in Trade Mark Practice launched in September 2011.

UK Endorsement Board Academic Advisory Group (UKEB AAG)

I hope we continue to interact in the future.

We developed a thriving international post-graduate IP community resulting in five PhD graduates in the IP and information law field – including the University’s first ever PhD in IP law – ranging from digital copyright, comparative trade mark law to Omani IP law frameworks.

I am proud of the significant funding we generated including £24,900 awarded in the Studentship Enterprise Competition 2015 by the UK Intellectual Property Office for a project to help Art & Design students protect their IP during their final year degree shows; and £69,000 in the UKIPO Fast Forward Competition for the 'Nottingham Creative IP' in 2014/2015 among other amounts. I believe the IP Research Group (with special thanks to NLS Professor Jane Jarman) has made a real impact in supporting creators and innovators to identify, leverage and manage their IP.

In 2018 we published a Special Intellectual Property Law edition of the Nottingham Law Journal (2018) 27(1) Nott L J. ISSN No. 0965–0660 (see https://www.ntu.ac.uk/media/documents/academic-schools/law/nottingham-law-journal/nlj-2018.pdf).  This edition featured a series of thematically linked articles in support of intellectual property law (IP) education and research. The contributions emanated from the 10th Anniversary European Intellectual Property Teachers Network (EIPTN) Conference, hosted at the vibrant School of Economics, Lund University in Sweden on 29–30 June 2017 which I had the pleasure of co-convening and chairing.

The NLS IP Research group had the honour of organising the launch event of NTU’s Global Cultural Heritage Series, entitled “Protecting Africa's Cultural Heritage: The Case for Geographical Indication Protection.”  The World IP Organization’s Assistant Director General Professor Edward KwaKwa was our Special Keynote Speaker at the webinar held on 7 May 2021.  I was privileged to welcome Professor KwaKwa who discussed his incredible work with the Intergovernmental Committee on IP and Genetic Resources, Traditional Knowledge and Folklore (IGC) as well as WIPO's IP policy work.  The international webinar focused on Geographical Indications (GIs), a form of collective branding IP right that originated in the EU, now a burgeoning global phenomenon. The African Union and the EU desire to implement a continental strategy to protect Africa’s cultural heritage from misappropriation. We explored potential new GI protection case studies: traditional Ghanaian Kente textiles (NLS Doctoral Candidate Michelle Okyere); and Tanzania’s single source purple-hued Tanzanite gemstones (Janice Denoncourt) and Peter Vaughan discussed modern trends in GI protection for non-food products.

Our India-UK IP Scholars Celebrate World IP Day 2022: Youth and Innovating for a Better Future was a 3-day online research and teaching event, jointly organised by the IP Research Group and NTU Global, together with our institutional partner Panjab University, Chandigargh, India.  India and the UK's IP ecosystems were explored from a variety of perspectives, and I gave a keynote speech on 'Youth and Innovating for a Better Future' and Jane Jarman and Peter Vaughan also presented on their IP-related advisory work with NLS Legal.

World IP Day 2023 was highly memorable for the IP Research Group participating in a high level panel 'Women and IP: Accelerating Innovation and Creativity' at the historic Institute of Directors in Pall Mall, London supported by the UKIPO and the IP Awareness Network, a London-based think tank.

In the same year, I was a keynote at the Global Women Inventors and Innovators Network (GlobalWIIN) in Reykjavik, Iceland at the Harpa Concert Hall and Conference Centre.  On 25 May I was invited to attend the Nobel Prize Summit 2023 - Truth, Trust and Hope held at the National Academy of Sciences (NAS) in Washington D.C, USA.   Participating in the ‘Solution Session’ hosted by the Swedish Embassy was a superb experience and an opportunity to interact with Nobel laureates.

In 2024 we contributed staff-student co-created content to a milestone report, The IPAN Guide to the SDGs. The Guide explores the17 Global Goals through an IP lens featuring the expert perspectives and recommendations members, practitioners and policymakers, all addressing the following question: ‘How does IP intersect with each of the Global Goals, and how might IP be used to advance innovation and creativity towards realising the Goals?’

Finally, a testament to the quality of our research is that NLS IP Research Group members have regularly been selected by their academic peers at leading institutions to present at the global International Association for the Advancement of Teaching and Research in Intellectual Property (ATRIP) Congress in 2015 (Cape Town), 2018 (Helsinki), 2019 (Nashville), 2020 (online) and 2024 (Rome) (see https://atrip.org/ ).  I look forward to presenting at the 2025 ATRIP Annual Congress at the University of Copenhagen in Denmark (https://eventsignup.ku.dk/atrip2025/).

A recent personal highlight was attending the Education and Skills Royal Garden Party at Buckingham Palace in May 2025.  My post for The Conversation, ‘For a Canadian in London, King Charles’ Royal Garden Party inspires sustainability education’ received over 11,688 reads (see https://theconversation.com/for-a-canadian-in-london-king-charles-royal-garden-party-inspires-sustainability-education-256869 ) which a pleasant surprise.

More recently I was honoured to present ongoing research and the IP Researchers Europe Conference 2025 at the University of Geneva and the World IP Organization (WIPO) and ATRIP 2025 graciously hosted by the University of Copenhagen.

For the immediate future, I have a new research monograph Transforming Corporate Governance and Reporting: Intangible Risks, Technology, and Intellectual Property Assets underway.

Also, I am the President Elect of the British Association for Canadian Studies and hope expand longstanding academic relations between our countries in an IP business context.

Sadly, I lost both my elderly parents this year so I will spend this summer working on settling their estate and enjoying time with family Montreal.

If you wish to stay in touch or have ideas or opportunities that could be interesting for me, please reach out via LinkedIn and we will connect.  Thanks and every best wish.

Janice

Associate Professor Dr J Denoncourt

IP with Joy Foster, Founder of TechPixies™

Our IP Research Group network continues to expand.  Associate Professor Dr Janice Denoncourt had an interesting discussion with Joy Foster, the Founder of TechPixies™  regarding intellectual property (IP) rights earlier this month on 12 November

TechPixies™ is an award-winning social media training company known for the free Vision Workshops™ and Social Media Superhero Bootcamp™ which over 15,000 women have completed. In 2023, it won the prestigious 2023 Brave Thinking Institute Outstanding Impact Award.

Image of TechPixies™ Founder Joy Foster at Work, Source: TechPixies™ used with permission

How IP rights safeguard small business and need to be managed is fundamental aspect of running a contemporary digital online business.  Every business has certain key IP rights include copyright and trademarks.  Janice and Joy discuss the purpose of an IP audit, the need to keep accurate records of IP rights, the role of the UK Intellectual Property Office (UKIPO) trade mark registry, searching for trademarks, how to register a mark (word mark, logos) with Pantone colours and the use of trade mark symbols for unregistered ™ and registered marks® aligned with domain names are all important considerations for digital firms. Over time, SMEs such as TechPixies™ will benefit from their IP rights portfolio in terms of growth, intangible asset value, differentiation from competitors, and potentially generate revenue from licensing leading to corporate longevity.

Janice suggested TechPixies™ founder consider applying for the UK Intellectual Property Office’s IP Advance Scheme that supports SMEs with less than 250 employees who would benefit from specialist support in IP-related matters.  Applications should be submitted to the UKIPO through a Business Advisor of the relevant regional partner, eg Innovate UK Business Growth (England).

The IP Research Group enjoyed coaching TechPixies™ to help identify their burgeoning portfolio of intangible assets and IP rights that will play a crucial role in shaping the company’s future success leading to corporate longevity (see J. Denoncourt. "Companies and UN 2030 sustainable development goal 9 industry, innovation and infrastructure." Journal of Corporate law studies 20.1 (2020): 199-235. To learn more about TechPixies™ check out their social media here:

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Associate Professor Dr J Denoncourt, Nottingham Law School, Nottingham Trent University

An Interest in Intellectual Property Beyond Borders ... Introducing Darion Smalls

Our newest IP Research Group and NTU staff member shares his IP interests, professional background and aspirations:

My first Undergraduate degree is a Bachelor of Science in Diplomacy and International Relations with a minor in Asian Studies from Seton Hall University. Shortly thereafter I stepped into the legal field as a Legal Intern and Training Specialist for a nonprofit that advocates for vulnerable children. There I began to build a body of knowledge and best practices in the State of Florida for working with survivors of human trafficking.

From that role I transitioned to working with a global nonprofit that advocated for survivors of human trafficking as a Training and Technical Assistance which eventually helped me to transition to a role in Change Management. Within this nonprofit, technology that they were working on was the use of blockchain and other financial data to evidence wrongdoing. This was my introduction to blockchain and serves as a foundation for an area of interest which is the use of Smart Contracts to protect IP rights and evidence infractions.

The last several years however has been focussed on Business Analysis, Project Management, and Change Management. A consistent concern within the IP space is how to valuate IP and commercialise where damages have not yet occurred. My hope is that with my background, I can bring together the legal and commercial elements for an innovative and pragmatic offering academically for NTU and eventually clients.

Joining NTU as a Staff and Student Member

I joined NTU in 2020 as a Mature Undergraduate Distance Learning (DL) Law student. As an American, I knew that I wanted to move to the UK and practice law, but the steps in between were unclear to me. As this was my second degree, I knew that I wanted to learn from the mistakes of my first University experience in the US by focusing on education and being a part of the University community. I did so until I moved in January of 2022.

NTU welcomed me with open arms. In the same year that I moved, I began in my role as a Strategic Transformation Analyst on the Business Transformation Team (BTT) in the Strategic Planning & Change department.

In this role, I have had the opportunity to continue learning, growing, and participating on a team and in a community that allows me to prioritise educational achievement. It was due to theirs and other colleagues’ support around the University that I was able to complete my Law degree with a First-class distinction.

My final year also fostered a voracious interest in intellectual property and technology through the Intellectual Property module and researching for my Undergraduate dissertation; "From Black Box to Open Book: The Case for Reintroducing Formalities in Copyright Law to Safeguard Ownership Rights from Generative AI". I also had the opportunity to contribute to the Intellectual Property Awareness Network (IPAN) publication “IPAN Guide to the SDGs”.

Continued Study at NTU

This year, I have begun my study on the LLM programme in technology law. I want to better understand how technology can be regulated to protect individuals' intellectual property rights. My eventual goal is to build on my dissertation by evaluating various technological and policy-driven interventions.

I look forward to continuing to benefit from the exceptional education and ability to critically think that NTU provided in my undergraduate degree.

Areas of Academic Interest

Penn State University’s Law School published a 2019 study by Sidnee McDonald that analysed the impact of intellectual property on the wealth gap between different racial, ethnic, and gender groups. Due to this study and some independent studies, I believe that intellectual property will be the most significant wealth generator for the foreseeable future. Many people do not fully grasp their rights and engage with technologies (such as AI) that can materially impact them (and, by proxy, their wealth potential) in profound ways. My hope academically is to extend the work from my Undergraduate dissertation to reasonable technical and policy interventions which may help rights’ owners commercialise and protect their works and if necessary, evidence infringement successfully to ensure equitable outcomes.

While my eventual goal is to practice in this area of law, I feel that there is a breadth of information of which I have barely scratched the surface. I welcome the opportunity to learn from and contribute to NTU’s IP Research Group.

Darion Richard Smalls

Strategic Transformation Analyst

Darion.smalls@ntu.ac.uk
Connect with me on LinkedIn

Michelle Okyere Reflects on the 2024 GlobalWIIN Conference

My October kicked off with a major dose of inspiration at the 2024 GlobalWINN (Global Women Innovators and Inventors) Conference themed, ‘Women Driving the Growth of Sustainability, Responsible Innovation and Inclusivity’.

Held at the Plexal Innovation Centre in Queen Elizabeth Olympic Park on 2nd & 3rd October 2024, this event was truly empowering. Thanks very much to my PhD Research Supervisor, Dr Janice Denoncourt, for facilitating the 2-day conference invitation.  Dr Denoncourt was on the independent international judging panel, responsible for selecting the Female Innovator of the Year!


As an aspiring Intellectual Property (IP) lawyer and researcher with a focus on small and medium-size enterprises (SMEs), I was amazed by the incredible work being done by female innovators around the world. From automatic glass design moulding machines to advanced joint supplements and innovative birthing beds – the creativity was endless!  The Overall Platinum Inventor of the Year Award Winner was Aino Mustonen of Finland for her Ecobond concrete, an alternative to cement made with patented energy-efficient technology from industrial by-products which is already approved and on the market in Finland.

I had the chance to network with many amazing women such as Sonja Loikala and Karin Berghammer and dive into informal chats about the importance of protecting IP rights in these inventions. The conversations tied in perfectly into an insightful panel discussion on the value of IP for inventors, especially for startups with John Ogier, Janice Denoncourt and IP lawyer Phoebe Whitlock, Directors of the Intellectual Property Awareness Network (see www.ipan.org) a not-for- profit, committed to championing the importance and understanding of IP.

One of the standout moments at the conference was the panel discussion about the challenges women face when trying to register and scale up their businesses. Accessing finance in male-dominated industries came up as a recurring theme. A powerful message, however, echoed throughout the event: that women should never be afraid to speak their truth, no matter the barriers.


Kudos to GlobalWIIN founder and CEO, Dr Bola Olabisi (FRSA) also a Director of IPAN, for bringing together this remarkable community of women and organising such an impactful conference. For more information about how to get involved with GlobalWIIN see https://www.globalwiin.com/ Nominations for the 2025 Competition are now open.

Michelle Okyere (LLB, LLM, PhD Candidate, Ghanaian Attorney)

Stormy weather: Legal Context for the Autonomy Litigation involving British Tech Entrepreneur Mike Lynch, recently deceased

23 August 2024

Media attention focussed on the tragic passing of British tech entrepreneur, Dr Mike Lynch, warrants some legal context to explain the decade long legal battles he faced before the Bayesian Yacht sadly sank off the coast of Sicily last week. Read the full article here.

WIPO-UNIGE IP Summer School in Geneva: NN Khumalo Reports

I am thrilled to share my experience representing South Africa at the 14th edition of the World Intellectual Property Organization-University of Geneva (WIPO-UNIGE) Summer School on Intellectual Property (IP).

The IP Summer School is a two-week course that took place on 17-28 June with the first week at the WIPO Headquarters, and the second week at Geneva Law School.

This incredible journey, alongside 75 senior participants (graduate and postgraduate) from 40 countries, opened my eyes to the fascinating realm of IP rights in ways I could have never imagined.

One of the most impactful moments for me was learning from Carlos Castro, Head of IP at the International Olympic Committee – IOC. His insights on the use of IP in the sports industry were invaluable. Carlos shared real-world examples that truly inspired me, showcasing the dynamic intersection of IP and sports.

Equally memorable was my involvement in the group focusing on IP & Sustainable Development in the fashion and luxury industry, led by the brilliant Olivia Dhordain, an IP Counsel specializing in the luxury sector. Olivia’s unique approach to storytelling as a method to engage and captivate audiences left a lasting impression. She emphasized how powerful narratives can be in conveying complex ideas, a lesson I am eager to apply in my future work.

I must extend my heartfelt gratitude to the entire academic organizing team – Martha Chikowore, Maria-Stella Ntamark, Irene Calboli, Jacques de Werra, Marion Consoli, Lara Macedo, and Romain Giacobino. Their dedication and meticulous planning created a seamless and enriching learning environment that enhanced every aspect of the programme.

A special thanks to Associate Professor Janice Denoncourt and Nottingham  Law School Module Leader for the LLM IP, Sport and Commerce and LLM Innovation and IP law modules. Janice’s passion for IP was the spark that ignited my curiosity and led me to this dynamic field. Her encouragement and enthusiasm were instrumental in my decision to explore IP further. I am deeply grateful for her mentorship and support.

The WIPO-UNIGE Summer School not only broadened my understanding of how IP drives innovation but also provided a platform for meaningful connections with professionals from around the world. I am eager to apply the knowledge gained to contribute positively to the field of intellectual property.

Ncamisile Nomfundo Khumalo

NLS LLM 2023-2024

REVITALISED AND INSPIRED:

MY EXPERIENCE AT THE 42^ND ATRIP CONGRESS

As a young researcher navigating the throes of the intellectual property (IP) law space, attending the recently concluded 42^nd International Association for the Advancement of Teaching and Research in Intellectual Property (ATRIP) Congress in Rome was a transformative experience. Being in the vibrant city of Rome, with its cultural and historical richness, was exhilarating. It stirred up my creative juices and provided a stimulating environment for intellectual exploration. The conference was a wonderful way to engage with a leading organisation and gain invaluable insights from seasoned researchers in the field, which will undoubtedly shape my future research and career.

This year ATRIP was organised by Luiss University and focused on the theme of ‘IP, ethical innovation and sustainability’. I was privileged to be among the 12 PhD students selected to present at the Doctoral Students workshop.

My presentation focused on Geographical Indications (GIs) and non-agricultural products in Africa, with a comparative analysis of ceramics from Italy and Morocco. I provided recommendations on how Deruta ceramics from Italy and Fes pottery from Morocco can be made economically, socially and environmentally sustainable through the promotion of GI laws and practices. A key takeaway from presenting at the workshop was the importance of presenting research succinctly and precisely. The PhD Workshop, which required us to present our research in just five minutes, was an excellent exercise in distilling the core of my work, making it more accessible and beneficial for both myself and the audience.

Listening to the diverse presentations over four days offered a deep dive into the main aspects of current IP law research. The knowledge gained and connections made with other PhD students and esteemed researchers such as Niharika Salar, Jeremy de Beer, Irene Calboli, Leanne Wiseman, Dr. Samuel Andrews, Dr Chijioke Okorie, Dr Milton Lucido, Ivana Kunda, and Sofia Filgueiras were unparalleled. Meeting pioneers like Jerome Reichman and engaging with Professor Ruth Okediji provided plenty of new perspectives for my own work. Christopher Jon Sprigman challenged the basis of my research, prompting me to explore new angles, while Graeme Dinwoodie offered critical feedback to make my research more philosophical and impactful. It was especially exciting to reconnect with my mentor, Prof. Edward Kwakwa, the Assistant Director General at WIPO  and key note speaker.

The conference sessions covered a wide range of topics, including trademarks, copyright, traditional knowledge and culture, patents, and artificial intelligence, offering a comprehensive overview of current trends and challenges in the field. The social events also provided great networking opportunities, where I was privileged to meet inspiring researchers such as Bryan Khan and Fiona Macmillan.

Congratulations again to the winners of the Doctoral Workshop presentations, Leona King, Gabriele Cifrodelli, Maciej Padamaczyk.  A huge congratulation to Lokesh, winner of the ATRIP Conference essay competition. As for the future of IP law research, we are poised to make significant contributions to the field.

Attending and presenting at this conference would not have been possible without the financial support of the Nottingham Law School and the encouragement of my Director of Studies, Associate Professor Dr. Janice Denoncourt, and my research supervisor Dr. Hakan Sahin.  Their guidance and support have been instrumental.

A special thanks also goes to Janewa Osei Tutu, an incredible mentor and source of inspiration. Her continuous insights and advice have significantly contributed to the development of my research.

Overall, the workshop was a fantastic blend of intense learning and rewarding experiences. Here's to many more enlightening and enjoyable conferences ahead!

Michelle Okyere (LLM NTU, PhD in IP law candidate)

IP Awareness Network Virtual Expert Panel Discussion in Follow Up to 'IP & The SDGs' Report

11 July 2024

Register now for IPAN’s ‘IP & The SDGs’ virtual panel event on Thursday 11 July 2024 (12:00-13:30 BST)

On World Intellectual Property Day 2024 on 26 April 2024 and as part of our ‘IP & The SDGs’ programme launch, the Intellectual Property Awareness Network (IPAN) was pleased to publish its milestone report, ‘The IPAN Guide to the SDGs: Building our common future with innovation and creativity’. The Guide is an exploration of the 17 Global Goals through an IP lens featuring the expert perspectives and recommendations of key partners, members, practitioners and policymakers, all addressing the following question: ‘How does IP intersect with each of the Global Goals, and how might IP be used to advance innovation and creativity towards realising the Goals?’ Through this Guide, IPAN aims to bring IP and the SDGs ever closer together and to ensure that developments in intellectual property in the future have sustainability at their core from the outset of policy or project planning, rather than as an afterthought.

The topics and themes explored in the Guide will now be considered further at a virtual panel event which will be hosted by IPAN and our partners on Zoom in July 2024 and organised by the University of Exeter’s Dr Louise Loder (IPAN Secretariat).

For this session, which will take place on Thursday 11 July (12:00-13:30 BST), IPAN invites some of the report contributors, all senior leaders working in education, business / entrepreneurship, policy and practice, to share their insights into and expertise on key aspects and the interplay between intellectual property and the Sustainable Development Goals.

Organised by the University of Exeter’s Dr Louise Loder (IPAN Secretariat) and moderated by Phoebe Whitlock, IPAN Board Member & UK Delegate to UN Women, the session will welcome:

John Ogier, Chair of IPAN

Neil Lampert, Deputy CEO of the Chartered Institute of Patent Attorneys

Dr Janice Denoncourt, Associate Professor of Law, Nottingham Law School, Nottingham Trent University

Nisaa Jetha, Global Impact Strategist, Impact-for-SDGs

Dr Francesca Mazzi, Lecturer in AI, Innovation and Law, Brunel University London

Download the report here.

Image Credit: ssi77/Shutterstock

We hope you can join us!

Janice

Associate Professor Dr Janice Denoncourt , LLM Innovation & IP Law Module Leader

UK and US Hewlett Packard v Autonomy litigation: highlights corporate technology, intangibles and IP right accounting standards and reporting reform

20 June 2024

One of the biggest British tech deals involved Autonomy, a software company created in 1996 by former Cambridge University academic Mike Lynch. The British and American litigation that ensued highlights the need for wider discussions regarding reforms to accounting for nebulous intangible assets such as software, copyright and licences. How are these valued, accounted for and reported in company annual reports?

With hindsight, the evidence showed that the sale of Autonomy to behemoth Hewlett Packard (HP) in August 2011 over a decade ago was unfortunately rather unsuccessful. Within a year of purchasing Autonomy and with it, access to its knowledge management software, HP identified concerns regarding Autonomy’s accounting practices – alleging serious accounting irregularities including misrepresentation and disclosure errors. HP subsequently wrote down the goodwill value by billions. In other words, HP overpaid for Autonomy. HP found that Autonomy's intellectual property rights and perceived overall value were worth much less than its due diligence was able to confirm. Litigation ensued on both sides of the Atlantic.

The UK’s Serious Fraud Office eventually terminated its criminal investigation into Autonomy due to ‘insufficient evidence for a realistic prospect of conviction’.

Meanwhile HP was sued by its own disgruntled shareholders under the UK Companies Act 2006.

HP in turn successfully sued former Autonomy CEO Mike Lynch and former Chief Financial Officer Sushovan Hussain in civil proceedings before the UK High Court to recover its financial losses. In his defence, Mr Lynch submitted that misunderstandings as to accounting differences between the UK and the US were the problem, not deliberate fraud. Namely, there were differences between international financial reporting standards (IFRS) use by Autonomy, and the generally accepted accounting principles (GAAP), the financial reporting standards used for US-based companies. Nevertheless, in January 2022, the Court held Mr Lynch and his CFO had fraudulently inflated Autonomy’s value by misleading HP about its performance: Autonomy and others v Michael Richard Lynch and another (17 May 2022) High Court of Justice Business and Property Courts England and Wales. At paragraph 40 of the judgment, the High Court identified the alleged improper practices included:

40.1. artificially inflating and accelerating Autonomy’s revenues;

40.2. understating Autonomy’s costs of goods sold by characterizing such costs as sales and marketing expenses so as to protect gross margins;

40.3. misrepresenting Autonomy’s rate of organic growth; and

40.4. misrepresenting the nature and quality of Autonomy’s revenues as well as overstating its gross and net profits.

The damages award in favour of HP is pending and will likely be circa £4billion or less.

Autonomy’s auditors were also subject to civil legal proceedings. The UK Financial Reporting Council (FRC) fined accounting firm Deloitte £15million for auditing failings of the Autonomy accounts between 2009-2011 related to hardware sales and software licences to value-added resellers, rather than to end customers.

In the United States, the Department of Justice (DoJ) initiated a criminal investigation. In contrast to the UK’s civil judgment, the US court has now found Lynch and Hussain ‘not guilty’ of all 15wire fraud and securities fraud charges. Lynch had been extradited from the UK to San Francisco where he was under home confinement having posted a $100USD million bond.

Decade long litigation history aside, the wider issue is that this type of financial hole calls into question the contemporary law and practice of corporate governance, financial reporting and accounting standards and the ability of professional auditors, accountants and lawyers during the due diligence phase to identify over-valuation more readily. Further, how should the system improve standards and practices related to accounting for intangible assets to better assist auditors, purchasers and investors?

Generally speaking, the disclosures of Autonomy's intangible assets, namely, software (copyright protected) and licensing are by their nature more difficult to value than tangible assets, leading to both over and under valuation. Accounting standard setters such as the International Financial Reporting Standards (IFRS), the European Accounting Association (EAA), and the UK Endorsement Board (UKEB) as well as academic researchers are working on how to categorise different types of intangibles, introduce taxonomies of common terminology and make recommendations to aggregate or disaggregate type of assets in order to elicit higher quality decision-useful information. This article distils the need for a new research agenda to tackle contemporary accounting in terms of granularity and comparability of intangibles, IP rights and licences to a wider audience.

Company directors should be interested in how accounting ‘faithfully presents’ intangible assets in their own country, and when the company trades internationally. In the UK, the accounts must present a ‘true and fair view’. Dr Lynch was the President of Autonomy, Inc. and subsidiary ASL and he owed legal duties as a company director. Directors are required to sign off the audited accounts. The CFO, Mr Hussain was held to be a de jure director of all three relevant subsidiaries, Autonomy Inc, Zantaz and ASL, and owed duties to all three.

Company directors, auditors, internal accountants and corporate governance professionals are in an increasingly difficult position. Intangible assets are prolific yet traditional approaches for valuing tangible assets such as computer hardware or plant and equipment do not map well to intangibles. Therefore, the risk of litigation for misrepresentation (innocent, negligent or fraudulent) is evident. Valuation and reporting of intangible assets is the new normal yet, intangibles is the term for a huge category of diverse corporate assets. One sub-set of intangibles is intellectual property (IP) rights. For example, Autonomy’s software may be protected as a copyright work under the Copyright Designs and Patents Act 1988 if it meets certain legal criteria. It is usually valued by the amount of copyright licensing revenue generated. The first allegation was that Autonomy's hardware sales was 'mischaracterised' as licence revenue. The legal issue is whether this was deliberate or not. It was alleged that both Autonomy's CEO and Finance officer had fraudulently (with knowledge) inflated the figures reported. Other intangible assets have other characteristics and will be valued differently.

However, the outcome of a series of civil and criminal court cases in two jurisdictions over 13 years turned on the applicable standard of proof. The criminal standard, proven ‘beyond a reasonable doubt’ was too high a hurdle for the prosecution to meet in the US. However, the UK High Court civil judgment decided ‘on the balance of probabilities’ handed down by the Honourable Mr Justice Hildyard stated at paragraphs 101-102:

101. This has been an unusually complex trial, 93 days long. Dr Lynch was cross-examined for 20 days. There was a database of many millions of documents from which there was extracted a trial bundle containing more than 28,000 documents. These documents have been the most reliable source of evidence. But there were also hundreds of pages of hearsay evidence, largely comprised of transcripts from previous proceedings in the United States, both civil and criminal.

102. Nevertheless, I have reached clear conclusions in these proceedings on the civil liability of Dr Lynch and Mr Hussain for fraud under Financial Services and Markets Act (FSMA), common law, and the Misrepresentation Act 1967, applying, of course, the civil standard of proof of the balance of probabilities.

From HP's perspective how the numbers added up in their valuation of the relatively young Autonomy technology firm mattered.

Setting fraud aside, the system needs to support stakeholders as to develop new norms and standards of transparency and disclosure expected for reporting corporate intangible assets. However, even the accounting standard setters themselves are not sure ‘Which Way to Go?’ with respect to International Accounting Standard (IAS) 38 Intangibles. International academic researchers such as the IFRS-EAA Intangibles Research Group were commissioned to produce a literature review and are currently working on evidence to underpin policy as how best improve the accounting rules related to intangible assets. A key component involves when to formally 'recognise' revenue of intangible assets during the business lifecycle and where such material figures and information should be reported - in the accounts, notes to the accounts or in additional narrative 'disclosures' where the company directors give explanations? The IFRS-EAA Intangibles Research Group is also evaluating court cases to study how best to ensure an appropriate governance and stewardship standard to reduce the risk of fraud and promote financial stability and the needs of our modern technology ecosystem.

Dr Janice Denoncourt

Associate Professor

ORCID ID 0000-0003-2176-8935

IFRS-EAA Intangibles Research Group

Director IP Research Group

Nottingham Law School

Nottingham Trent University

United Kingdom

Nottingham Trent University Academic Signs Book Contract with Publisher

18 June 2024

Dr Janice Denoncourt, Associate Professor in Law at Nottingham Law School, Nottingham Trent University, Nottingham, has signed a contract for her forthcoming book, Transforming Corporate Governance and Reporting: Intangible Risks, Technology, and Intellectual Property Assets with Taylor & Francis Publishing.

Jan new book will evaluate developments in corporate reporting that have taken place since her first research monograph Intellectual Property, Finance and Corporate Governance (2018, 2020) ISBN 9780367591410 was released, drawing on her extensive research in the field. Dr Denoncourt’s first highly successful research monograph was entered by Nottingham Law School into the C18 Law Unit of assessment of the UK’s 2021 Research Excellence Framework.

In her earlier work, Jan argued ‘IP law has evolved from being a little pool to a big ocean. Corporate governance needs to respond to society’s rising expectations of directors and boards as the impact of the global intellectual property ecosystem is felt.’ She advanced the key corporate governance principles of transparency and disclosure with a focus on patents to illustrate the legal issues. She analysed the juncture between the IP ecosystem; corporate finance, accounting for intangibles and the crucial role of corporate governance. According to World Cat Jan’s book is available in over 150 university libraries across 30 countries and five continents, evidence of its academic significance and reach. Her new book will analyse the seismic legal developments that have taken place since 2018.

Jan said, “I am delighted to have signed a contract with the leading publisher at the intersection business and law. I have wanted to write a new book that covers all the significant changes in corporate governance and reporting since COP26 took place in Glasgow. The creation of the International Sustainability Standards Board (ISSB) also brings with it new law that significantly advances corporate reporting of critical non-financial information including intangible assets and IP rights.”

Dr Denoncourt is a graduate of McGill University (BA), the University of Western Australia (LLB) and the University of Nottingham (PhD). She is a Graduate of the Australian Institute of Company

Directors and leads Nottingham Law School’s Intellectual Property Research Group. A book launch is planned for Spring 2025.

Janice’s first monograph, Intellectual Property, Finance and Corporate Governance may be purchased here.

Nottingham Law School staff & students contribute to World Intellectual Property Day 'IPAN Guide to the SDGs’

With forewords from John P Ogier, Chair of the Intellectual Property Awareness Network (IPAN); Adam Williams, Chief Executive and Comptroller-General of UK Intellectual Property Office; and Neil Lampert, Deputy Chief Executive, The Chartered Institute of Patent Attorneys, the Guide is an exploration of the 17 Global Goals through an IP lens.

The Guide features insightful contributions from NLS IP law academic Associate Professor Dr Janice Denoncourt, NLS Early Career Researchers Joseph Godfrey, Michelle Okyere; and IP Law Distance Learning students Rudolf Michael Kissler, Kevin Sattarzadeh and Darion Smalls.   They address the following question:

‘How does IP intersect with each of the Global Goals, and how might IP be used to advance innovation and creativity towards realising the Goals?’

Over 30 IP lawyers, academics, entrepreneurs and students also contributed.

It also features the expert perspectives and recommendations of the IPAN Board and Secretariat, IPAN partners, members, practitioners and policymakers.

Introducing our New Intellectual Property Scholar Joseph Godfrey

The Intellectual Property Research Group is delighted to welcome another new member!

Joseph Godfrey is a fellow IP enthusiast and scholar who recently completed his LLM (specialising in IP law) degree at Cambridge University.  He then became a Research Assistant with the Alan Turing Institute.   Joseph has a strong interest in copyright law.

With diverse publications already to his name, Joseph examined aspects of reverse engineering software in his article published in the Intellectual Property Quarterly [2024] 1 IPQ 50.    As an Early Career Researcher, Joseph is keen to expand his IP repertoire and tackle automated copyright enforcement (eg. social media website YouTube's ‘ContentID’ system), pirate communities as a model for media preservation, and the implications of generative AI for legal deposit libraries.  Joseph says, ‘I plan to start my PhD at The University of Hong Kong next September.  My research project has the working title:  Home Taping Is Saving Music: Media Preservation in the Information Age’.  An abstract of Joseph’s research is set out below:

Copyright's foremost function is to encourage the creation of works. It does not, however, provide adequate measures to preserve those works. All works will one day enter the public domain, but that is of little use when there are no copies of the work left to reference. Moreover, the loss of media presents a serious blow to our cultural heritage. Print fades, film decays, and discs rot; and sometimes copies just go missing. Loss of media seems like an inevitability, but it does not have to be, especially in this unparalleled era of technological capability.

Joseph further explains that his research aims to: (1) deduce which laws or amendments to laws would be particularly conducive to the preservation of media; and (2) ascertain the economic and societal costs and benefits of implementing such changes.  Joseph will likely be supervised by  Professor Haochen Sun.

The IP Research Group is delighted to have another new IP scholar in our midst.   Currently, Joseph is employed as a Legal Research Assistant within Nottingham Law School. One of his tasks over the next few months involves assisting Associate Professor Janice Denoncourt with her interdisciplinary IP research.

Welcome aboard Joseph!

To contact Joseph, kindly email: joseph.godfrey@ntu.ac.uk

Dr Janice Denoncourt publishes new research on corporate reporting & Technology Readiness Levels (TRLs)

In Intellectual Property, Finance and Corporate Governance (2018, 2020) I argued that traditional corporate reporting is arguably not fit for purpose where technology capability and readiness is concerned due to lack of corporate disclosure.  In this volume, I first mooted the use of the technology readiness level (TRL) system to enhance transparency and accountability. My new research advocates that as the TRL system is grounded in established ideas it can be transferred from the public to the private sector to benefit corporate reporting to support sustainability investment decisions.

Technology to support sustainable development is knowledge-based, tends to be complex and uncertain and often subject to long development periods. There are rising policy concerns regarding how corporate governance, which is inherently interdisciplinary, should deal with transparency and reporting of the growing range of new technologies. This uncertainty engages company directors and investors in a constant search for material non-financial information (NFI) to improve their decision-making. They seek accurate, timely and comparable NFI as to how a firm will leverage its technology responsibly to power its business model, information often buried in lengthy integrated annual reports.

New communication tools are needed to enhance communication, primarily with shareholders, but that may also benefit stakeholders and the wider community. My new chapter evaluates the TRL system as a potential tool to aid corporate reporting of technology progress. The TRL system is a globally engrained method of estimating the maturity of critical technology elements on a scale of one to nine, with nine being the most mature technology. Assigning a TRL between 1 - 9 signals to the market the technological capability and readiness of new innovations. A key advantage is the system provides 'comparable' NFI regarding the state of technology progress and commercialisation.

Most lawyers, bankers and accountants are not familiar with the TRL system. I became familiar it in the late 1990s as in-house legal counsel for a publicly listed mining technology company when I was more closely involved science and engineering. My company had acquired an interesting patent portfolio of certain non-explosive rock-breaking technology inventions based on American space rocket technology.  The documentation referred to TRLs.

Whereas its origins lie in the public finance sector via NASA, I present arguments and logics that suggest the advantages of using the TRL system in corporate reporting and disclosure outweigh the disadvantages. The aim is to support 'faithful representation' as to how well technology disclosure statements reflect underlying technical and scientific variables. However, at present there is no common, technology-neutral, or preferred way of presenting non-financial technology information in corporate management and annual reports, which can be used to verify the reliability of the reported information. The interdisciplinary analysis builds a possible shared understanding from corporate governance, transparency, and accountability standpoints.

To read more see: Chapter 16 which features in Intellectual Property Rights in the Post-Pandemic World (1 December 2023) J. Mahonen, T Pihlajarrine and P. Upreti (Eds), Edward Elgar Publishing, pp316 ISBN: 978 1 80392 273 7 available to order here.

Associate Professor Dr J Denoncourt, Nottingham Law School, UK

Director, Intellectual Property Awareness Network (IPAN) see www.ipaware.org

[1] On 11 March 2020, the World Health Organization (WHO) declared the novel coronavirus (COVID-19) outbreak as a global pandemic (WHO Director-General’s opening remarks at the media briefing on COVID19 –March 2020).

Dr Janice Denoncourt IP Coach and Strategist for YABOUY™ Gambian IP Gold Award Winner

Imagine visiting the local Tanji fish market where you can buy fresh local produce to slow-cook your meal Gambian-style, with time to chat, learn about the local cuisine, fashion and culture, singing and playing games before enjoying your aromatic fish dish from the Atlantic Coast. Well, that is all part of the YABOUY™ home cooking experience.

Mrs Ida Cham Ngai, a vibrant, successful businesswoman from the Gambia was awarded the Intellectual Property Awareness Network’s (IPAN) Gold IP Award at the virtual ceremony held on 2 December 2021 during the Covid-19 pandemic.  I am delighted to have supported Global Women Innovators and Inventors Network (GlobalWINN) founded by IPAN director, Dr Bola Olabisi FRSA for the past few years as Judge on the panel of international competition judges.

I caught up with Ida virtually on 18 December 2023.  I heard exciting new developments regarding YABOUY™, her unique sustainable food and culture tourism business based in sunny Gambia.

Nigel Worth, John Ogier and Janice Denoncourt, IPAN’s resident IP Rights and Strategy Coaches, learned about exciting new developments that have taken place since the Covid-19 pandemic.   YABOUY™ is on the cusp of a new way to share Gambian foodie culture - working with a cruise liner to provide passengers with local ‘cultural experience’ day excursions!

The IPAN Coaches discussed a variety of strategies for Ida to identify, protect and maximise a variety of IP rights for YABOUY™. Beginning with an IP rights audit, the session covered IP strategies in an African context, among other business and social media strategies. YABOUY™ has a well-established online presence online, on FB, Instagram and YouTube.

Dr Olabisi explained how the coaching session really provides Ida and YABOUY™ with the opportunity to reflect on the growth of the business while becoming more aware of the various IP implications and benefits.  Ida expressed her appreciation for such an amazing opportunity as she is dedicated to “preserving her culture to promote sustainable tourism”.

Janice Denoncourt