It is helpful to remember that Intellectual property (IP) is not physical property, like land or equipment. It is, for example, the right to monopolise:

• a name (trade mark)
• an invention (patent)
• a design (registered design)
• copying or modifying (copyright)

Some common issues arise for each type of intellectual property. These include:

• Ownership
• Protection (which may include registration)
• Enforcement
• Commercialisation

Avoiding inadvertently infringing other’s rights

• Obtaining the correct intellectual property protection can save tens of thousands of dollars.
• Getting the right advice early on can help you to set up your intellectual property to best effect and avoid costly mistakes that are difficult to fix.
• Registered intellectual property rights can add substantially to the value of your business.

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