Intellectual Property Rights
Protecting your product, brand name or design by way of a patent, trademark or design registration is an extremely effective way of creating and protecting your market.
The process of doing so is governed by strict guidelines and whilst it can be a rigorous process, the risk of not doing so is immense. There is no point in having invented something only to have it copied by others, thus taking your ability to create what is effectively a monopoly market.
Having said this, once you have a patent, trademark or registered design, there is no point if you allow it to lapse.
Imagine having invented a fantastic and completely unique product and having been granted a patent for it. The product now becomes a very valuable fixed asset. It is saleable and licensable…it has great financial worth.
Likewise if you have a unique company name or logo which is trademarked and have spent millions of dollars marketing your company name, you do so with confidence as you know that no one can copy or mimic your name or logo.
You are in a great position, having protected your product, brand name or design, you are protected from dishonest people who may attempt to copy you, however you now have the right to sue and to protect your product, brand name or design and thus protect the assets of your business……but remember… patents trademarks and registered design have expiry dates and need to be renewed.
Imagine having a unique and valuable patent, trademark or registered design only to miss a renewal date and have a competitor race in and take your product away….you will lose…..you may lose greatly…. even your entire livelihood !!!!
For more information about IP, visit IP Australia's website: http://www.ipaustralia.gov.au/
Protect yourself….from as little as AUD $12.95 per annum you will never miss an IP renewal date again.
