What is Intellectual Property?
Intellectual Property (IP) is said to be the ‘property of your mind or proprietary knowledge’ or ‘results of creative and innovative endeavours’. It is described as ‘intellectual’ because it is the result of the application of the mind, and ‘property’ because, just like other property, it can be owned, sold and transferred, leased or given away.
In Australia, IP Australia is the Government Agency that administers IP rights, legislation and registration. Australia is also a signatory to a number of international agreements that protect IP in other countries.
Why is it Intellectual Property Important?
IP is designed to provide protections for individuals or businesses and their inventions that they have created to give them a competitive advantage. Your idea must be new or original, however, in this day and age, it might not always be easy to determine if your idea is new or original.
What are types of Intellectual Property?
Types of intellectual property include:
- Copyright – artistic works, music, software, databases, and other copyright works;
- Patents – new or improved products and services;
- Trade marks – logos, brands, colours, shapes, scents etc;
- Registered Designs – the shape or appearance of a product;
- Plant Breeder’s Rights – new plant varieties;
- Circuit layout design rights.
Further, confidential information can also be intellectual property. This can include trade secrets and consist of client or customer lists, business or marketing plans, and manufacturing specifications.
With increasing use of technology and with new businesses being established on a daily basis, intellectual property is being used more frequently and everywhere!
How can we help?
At Rockliffs, we recognise that intellectual property is a precious and valuable asset to every business; whether a small enterprise, an individual entrepreneur or a multi-national corporation.
Our Intellectual Property team advises business clients on a wide range of commercial legal problems, and strives to provide inspired and practical solutions which are aimed at developing a commercial strategy to identify, manage, protect and profit from your intellectual property. Our team is experienced in trademarks, patents, copyright, registered designs, franchising, domain names and internet marketing.
Michael Hutson holds a Master’s Degree in IP Law (M.IP). He is a senior commercial lawyer and registered Trademark Attorney at the Institute of Patent and Trade Mark Attorneys of Australia.
Call the experienced IP Law Lawyers at Rockliffs Lawyers today for a confidential discussion on commercialising your IP.