Intellectual Property Law

Intellectual Property Law

One of the biggest assets a small business can have is their intellectual property, yet many small business owners don’t know how to protect it, or why they should.

The most common ways a small business owner can protect their intellectual property is by protecting their business brands with trademark registrations.  Some small businesses also protect their business products and processes through the use of patents.

However sound intellectual property management involves more than just protecting your trademarks or obtaining a patent.  Our intellectual property consultants take the time to understand your small business so that every piece of advice is specifically tailored to your needs.

We offer complimentary consultations and assessments of your intellectual property needs and can help you in the following ways:

Our areas of expertise include

  • Conduct patent or trademark searches on your behalf
  • Apply for and register a trademark
  • Apply for and register a patent
  • Prepare IP agreements
  • Audit and manage your IP assets and renewals

 

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Articles relating to Intellectual Property Law

Intellectual Property – How do I protect it?

Almost all businesses have intellectual property (IP) that needs to be protected, and as a business owner it’s important to understand how to protect your IP. However, many business owners fail to protect their IP for fear of it being complex and costly to do so.

While it may feel daunting, failing to protect your IP can lead to devastating outcomes, so it’s crucial to correctly register your IP and have a lawyer assist you with any IP disputes that may arise. You can then rest assured that your business has the correct legal underpinnings in place to build upon.

There are many different types of IP, but the most common forms of IP that we see clients register are patents and trademarks.

How can a Patent protect my business?

Patents are used primarily to prevent third parties from manufacturing, using and/or selling an invention. They can be complex and take time to register, so it’s important to get advice early.

How can a Trademark protect my business?

By registering your trademark you are stopping third parties from being able to use your brand. In and of itself it can be used as a marketing tool.

It’s relatively easy to register a trademark and is the first form of IP most business owners protect. By failing to register your trademark you could leave your business exposed. Registering a trademark is not the same as registering an IP address or business name. It provides far greater protection. Here’s what Bec Derrington had to say about registering her trademark for Sourcebottle:

‘When I first started I thought registering my domain name would be enough, but I soon realised that would not protect me if someone else wanted to use the name SourceBottle®. All I’d done was ensure they just couldn’t use the same domain address. This meant I needed to register the trade mark for my business, SourceBottle®. I used a trade mark attorney to manage the process, who was able to determine the right classes under which to register the mark.’

Soon after Derrington launched the business nationally she realised she wanted to expand it globally. But she discovered that a martial arts studio owned the ‘sourcebottle.com’ domain name (she had sourcebottle.com). Thankfully, they had not sought to register the trade mark in any international markets, so she could register the trade mark internationally without any opposition, and managed to buy the ‘sourcebottle.com’ domain from the studio as well.

As demonstrated by Bec Derrington, registering your IP is crucial to your success as a business owner.

If you’re looking for experienced lawyers and cost-effective IP solutions, then Legally Yours can help. We work with business owners of all sizes across all industries. Our lawyers work on fixed-fees to provide you with price certainty and transparency, and our first consultation is complimentary. Contact info@legallyyours.com.au to find out more or call us on 1300 822 708.

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