The intellectual property (IP) rights of the UK’s oldest management institute have been sold out of liquidation, securing the qualification and career prospects of more than 7,000 students.
Established in 1915, the Institute of Administrative Management (IAM) entered liquidation in November 2013, partially as a result of “immigration policy reducing the number of potential students.”
On the instruction of Begbies Traynor in Birmingham, intellectual property specialists Metis Partners engineered a sale of IAM’s IP to Industry Qualifications, a regulated awarding organisation.
Students who were engaged in IAM award programmes will be able to complete their qualifications under Industry Qualifications.
Linda Shannon of Metis Partners commented: “This is a great result, primarily for the students, but also because IAM, a renowned name in business, will continue in existence into its centenary year.
“All parties involved are happy with the sale and the best possible return was achieved for creditors as Metis Partners opened up this opportunity to the market and professionally identified and highlighted the value in the intellectual property assets.”
Stephen Roberston, founder and chief executive of Metis Partners, said: “It is particularly gratifying to be able to conclude a sale which is a win-win for everyone.”
“Metis Partners was able to construct a solution which met the requirements of the liquidator to act in the interest of creditors and also to take into account the interests of the students, who were facing considerable uncertainty over their future.”