/ BLOG

Intellectual property – answers to 5 most commonly asked questions

Intellectual property (IP) plays a crucial role in protecting your business’s creations and giving you exclusive rights to profit from them. To help you get started, IP Australia has answered the five most common questions asked about IP protection.

1.Which IP protection should I consider?

When it comes to protecting your creations, you may need to consider multiple types of IP. Understanding the different types of IP and how they might benefit your business is the first step.

Here’s what each of the IP rights protect:

  • Registered trademarks protect your brand. They can be used to protect a logo, phrase, word, letter, colour, sound, smell, picture, movement, aspect of packaging, or any combination of these.
  • Patents protect your inventions and how they work.
  • Design rights protect the overall appearance of a product.
  • Plant breeder’s rights (PBR) protect new plant varieties.

If you’re not sure what type of IP right you need, IP Australia’s choosing the right IP tool can help point you in the right direction.

2. What is the trademark application process? 

Applying for a trademark involves a few key steps. First, you should determine if you have a trademark and conduct a thorough search to ensure its uniqueness.

IP Australia’s TM Checker tool:

  • Can help save you time and effort when it comes to checking if there are any registered trademarks similar to yours before filing an application.
  • Helps make it easier to identify potential conflicts.
  • Gives you an estimate of your application costs.
  • Gives you an idea of the application process time.

An initial check only takes a few minutes and is free. If you decide to apply for a trademark registration using TM Checker, it can cost as little as $330 and lasts an initial period of 10 years. Once you’ve applied, IP Australia will:

  • Review your application
  • Keep you up to date with progress
  • Provide you with an outcome.

3. How do I check if my idea is new and can be protected? 

Researching the market before you apply helps to determine if your idea is new and can be protected. Start by understanding your competitors and consumers. Ensure that your ideas don’t infringe on existing IP rights.

If your idea covers multiple types of IP, such as patents, trademarks and design rights, search across all relevant registers.

To check if your IP is available in Australia, here are some search tools you can use:

For international protection, search the respective registers in relevant countries. By conducting a thorough search, you can save yourself time, money, and headaches in the long run.

4. How much does it cost to protect my IP?

The cost of protecting your IP can vary depending on the IP right.

For details on costs, check out the timeframes and fees for each IP right in Australia.

Remember, it can be important to keep your innovation or IP a secret until you secure IP registration, as public disclosure before filing can affect your ability to obtain protection and leave you vulnerable to being copied.

5. What do I do if I think someone is infringing on my IP?

If you suspect someone is infringing on your IP, it’s your responsibility to take action. Start by gathering evidence of the infringement, such as:

  • Photographs
  • Documents
  • Screen shots
  • Witness statements.

Consider consulting with an IP attorney to understand your rights and explore legal options. In some cases, sending a cease and desist letter may resolve the issue. If necessary, you can escalate the matter to court proceedings to protect your IP rights.

What to know more?

To learn more about IP rights, check out IP Australia’s online resources.

 

Disclaimer:

*This information is brought to you by IP Australia and is general advice only. For any questions or to learn more about this topic please contact IP Australia or visit https://www.ipaustralia.gov.au/trade-marks 

This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.

© 2024 BizCover Pty Limited, all rights reserved. ABN 68 127 707 975; AFSL 501769

Compare multiple quotes online in minutes

Compare FREE quotes

Compare multiple quotes online in minutes

Trusted by over 250,000 Australian small businesses.

Compare FREE quotes