Protect your intellectual property

Whether it’s your branding, innovations or trade secrets, these are assets that are very valuable to your business. Understand what your intellectual property rights are and make sure that you are properly protected.

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Here are the packages commonly requested by other businesses:

Register a trade mark

If you have a strong brand, it is essential that you prevent others from using your business name or logo by registering a trade mark. 

3 THINGS YOU NEED TO KNOW
  1. Australian registration: You can register trade marks with a government agency called IP Australia, which will protect your trade mark in Australia.
  2. Process: IP Australia will charge a fee per trade mark and it will take at least 7-8 months to get an Australian trade mark registered.
  3. International trade mark: If you’re thinking of expanding globally, bear in mind that each country has its own rules, so your international strategy will depend on the countries you want to target.

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Licence your IP

If you want to retain ownership of your creation but monetise the IP, licensing is the way to go.

3 THINGS YOU NEED TO KNOW
  1. Share the things you create: This applies to you if you want to let others use your works – such as software, artwork, designs, music, etc – and monetise your IP by charging usage fees.
  2. Keep it under control: Make sure you limit how others can use your IP. That way you can control how your IP is used.
  3. Type of licence: Is it exclusive? How long should the licence last? This is important to get right as it can significantly affect your ability to further monetise your IP.

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IP Assignment

If you’re serious about creating value in your company, make sure your company owns all of the IP created for the business.

3 THINGS YOU NEED TO KNOW
  1. Keep a record: Keep track of everyone who has worked for you so that you can identify who needs to assign IP to your company.
  2. Assign: You should include an assignment clause in your Employment and Contractor Agreements, or get them to sign a separate IP Assignment Agreement.
  3. Scope: Make sure that the description of the IP is broad enough to capture everything that should be assigned.

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IP Health Check

Every business is different and it isn’t always straightforward what “IP” exactly means. Learn the different ways you can protect the IP assets of your business.

3 THINGS YOU NEED TO KNOW
  1. The 4 types of IP: Generally speaking, there are 4 types of intellectual property – trademarks, patents, copyright and confidential information.
  2. It’s not all about registration: IP isn’t always about getting something registered. It’s often about understanding which intangible assets of your business can be protected, and how.
  3. Understand your IP assets: We can conduct an “IP Health Check” on your business so that you can be strategic about your IP assets.

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Don’t worry – just book a free check up with one of our expert lawyers and we’ll help work out your legal needs.
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