Intellectual Property (IP)
Intellectual Property is often one of the most valuable assets of a business. That’s now true even for businesses which are not traditionally reliant upon IP.
100% of our Clients have valuable Intellectual Property which can be monetised. And so do you.
Intellectual Property Protection
Protecting Intellectual Property through registration of trade marks and patents. Consolidating ownership of valuable IP assets into dedicated IP holding entities to quarantine them from trading and insolvency risk. Smart business structuring to extract and protect income.
Intellectual Property Commercialisation
Commercialising valuable IP assets through licensing, franchising, partnerships, joint ventures, and other models, across Australia and internationally. Identifying and capitalising on monetisation opportunities, while minimising risk.
The 3 key issues to consider when dealing with IP are:
1. The individuals who create or develop IP automatically own it, NOT their employer or company.
Many business owners (both novice and seasoned operators) make the mistake of thinking that their company or other business entity owns their Intellectual Property. Just because certain IP relates to a business does not mean that the IP asset is owned by the business.
By law, ownership of any IP asset arises in the individuals who contribute to its creation or development. If those individuals do not sign a document transferring their ownership rights to a company or business entity, then they will continue to be owners of it forever.
Typically, individuals must sign one of the following documents for their IP ownership rights to be transferred to the company or business that they work in, or for:
(a) Employment Agreement
(b) Contractor Agreement
(c) Intellectual Property Assignment Deed
Contact us now and we will assist you to identify your valuable IP assets and how to ensure that your business actually owns them.
2. Registering a company name or business name DOES NOT make you the owner of that name.
Time and time again we see business owners make this mistake. Registering a company name (e.g. Rocket Ship Pty Ltd) or a business name (e.g. Rocket Ship ABN 12 345 678 910) does not give you ownership of the name (i.e. ‘Rocket Ship’).
The only way to stop one of your competitors using a name, slogan, logo, or other mark associated with your business is to register a trade mark with IP Australia. Without a registered trade mark, any person can freely use the name, slogan, logo, or other mark in direct competition with your business.
Reach out now and our IP lawyers will help you protect your business identity, and prevent competitors benefiting from your hard earned goodwill.
3. Identify and protect your IP, or you may lose control of it.
Every business has intellectual property, even if sometimes it’s not that obvious.
Intellectual Property covers business names, trading names, logos, and original works created by you or used in your business. It also includes your “secret sauce”, which might include business systems, processes, methods, know-how, trade secrets, and confidential information.
Identify your Intellectual Property, quarantine it from business risk, and feel safe that your business will survive a catastrophe. Becoming insolvent could mean that a liquidator or other external administrator could take control of your IP and sell it to the highest bidder, which is typically a competitor.
Reach out now for a comprehensive assessment of your intellectual property, so you can decide what protection measures need to be put in place for your business.
