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:
- Protection (which may include registration)
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.