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Servcorp Business Shorts presentation by Brendan Sheehan from Hunt and Hunt, on "IP Protection – Necessity or a Waste of Money?"
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IP Protection:
Necessity or waste of money?
Brendan Sheehan
Senior Associate
26 September 2012
Overview
In focus:
1. What is IP and why is it valuable?
2. How do we protect IP?
3. Tips and traps!
2
What is IP and why is it valuable?Types of IP| Examples | How can you use your IP? |
13
Types of Intellectual property
• Intellectual property takes many forms
– Business names / domain names
– Copyright
– Trade marks
– Designs
– Patents
– Trade secrets
– Confidential information
– Circuit layer rights
– Plan breeder’s rights
• IP rights in Australia not automatically protected overseas
– Generally territorial
– Some arise by use
4
How can you use your IP?
• Some of the possible benefits of IP (subject to the law)
– Generate revenue
– Raise prices
– Achieve dominance in a market
– Add value to the business as a whole
• Some practical techniques
– Licensing
– Restricting supply in a market
– Sale of IP
5
How do we protect IP?Audit | Understand | Registration | Action |
26
Audit
• An audit of IP is the first step towards a successful strategy
– Identify potential IP
– Identify nature of each item
– Determine whether the business has exclusive rights
– List all registered IP and an estimate of its value
– List all other IP and an estimate of its value
– List any other intangible assets
7
Understand
• Understand the nature of IP
• For example, design or copyright?
– Distinction important
– Copyright automatic
– Design must be registered
8
Register
• Register all IP that can be registered
• Registrable IP
– Patents
– Trade marks
– Designs
– Plant breeder’s rights
9
Act
• Copyright, circuit layer rights and trade secrets are not
protected by registration and require different methods of
protection
– Confidentiality agreements
– Staff training
– Other strategies
10
Practical tips and traps!Problems | Common mistakes | Tips |
311
Problems
• “I thought it was a company”
• “Everybody else does it”
• “It’s on the internet”
• “I just signed it, I didn’t read it”
• “I checked Wikipedia”
12
Common mistakes
• That IP protection is universal
• Assuming that all procedures and laws are the same worldwide
• Not using IP protection systems
• Applying too late for IP protection
• Disclosure of information without Confidentiality Agreement
• Disclosure of design before commencing registration
• Infringing IP rights of others
• Not defining IP ownership in outsourcing manufacturing
• Licence IP in market where licensed design/patent not protected
• Using a TM that is inappropriate in overseas market
13
Tips!
• Do you homework
• Due diligence
• Be informed
• Seek assistance from Government and trade bodies
• Get advice
14
Questions?
Brendan Sheehan
Senior Associate
Hunt & Hunt
T +613 8602 9215
www.hunthunt.com.au
