Acquisition demands IP portfolio review and fortification.
Pioneer of dairy based functional foods and nutraceuticals, New Image International develops and distributes natural health care products containing the health-giving, pre-milk antibody Colostrum as the base ingredient.
The purchase of a controlling interest in Somnaceuticals Limited, which develops and markets a natural sleep-enhancing milk product, Sleep Time, meant a vast combined IP portfolio with potential gaps in the protection of some products and processes.
James & Wells reviewed the existing trademark and patent portfolio of Somnaceuticals Limited, comparing it to the current protection in place for New Image International's products throughout Asia-Pacific.
As a result, they registered trademarks to protect Somnaceuticals' product branding, and patents to protect the composition, uses and associated methods of Sleep Time's production.
As the sleep-enhancing milk concept has been developed further, James & Wells has also developed patents and trademarks for all improvements and complementary products created.
The result has seen New Image International's IP form the basis of negotiations for licensing and distribution deals across Asia Pacific for Somnaceutical's products, including the launch of Sleep Time in Taiwan, with the first shipment of milk powder sold out to its 20,000 Taiwanese distributors within half an hour of launch.
"James & Wells provides New Image Group Ltd with specialist advice in the area of intellectual property which includes looking after our patent portfolio that protects our Sleep Milk product in New Zealand and internationally, enabling us to successfully launch our product worldwide."
Guy Wills, General Manager, New Image International