Intellectual property refers to “creations of the mind”, that is, something new and original that is created by a person applying their mind or intellect. They include creations such as inventions, novels, articles, paintings, photographs, plays, symbols, images, logo of a business, names, designs and many more. Rights to such creations are protected by various national and international laws.
Some rights are automatic; as soon as you create it you have exclusive rights to it. Copyright is such an example. To read more on copyright, please go to out copyright page.
Some rights are not automatic; you will not possess exclusive rights until it is registered. Examples include Trade Marks and Patents. Read more on:
There are also other types of registration that do not grant intellectual property rights but are often confused as doing so. For example, registering a business name grants you the exclusive right to trade under that name in the State of registration. It does not however create intellectual rights, so whilst no one else in the State can trade under that name, it does not stop them from creating a logo with your business name in it, or creating a product with that name.
Registering your intellectual property (for those that need registration) is extremely important in protecting the face of your business, to ensure that third parties do not steal the benefits from the good reputation you have built in association with your product, name and logo. There may be other ways to protect your intellectual property rights however it may be more costly and time consuming.
Further, obtaining rights to your intellectual property will usually increase the value of your business. Whilst it may not change the day to day operation of your business, this may make a significant difference should you decide to sell your business in the future.
It is also important to consult a lawyer at an early stage to ensure that you do not compromise your position. For example, if you demonstrate, sell or discuss your invention prior to applying for a patent, you may not be granted a patent.
If you require advice on an intellectual property issue, call us now on (02) 9521 2222 and speak with one of our intellectual property lawyers. You can also send an enquiry online now and we will call you shortly.