Thursday, 10 November 2016

What is Intellectual Property ?

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Great Idea !

Intellectual property (IP) is a form of intangible property right created by a person through their mind, for example, creating an invention or an artistic design.

Generally, IP rights encompass:

(a) copyright
(b) patents
(c) registered designs
(d) trade marks
(e) circuit layout designs
(f) plant breeder rights
(g) trade secrets.

In order to protect your IP rights it maybe necessary to register your IP. For example, if you have a name or logo specific to your business and you do not want others using that name or logo, then it would be prudent to register a trade mark to protect your IP interest.

In other cases, registration is not necessary to protect your IP rights. For example, copyright protection is conferred automatically upon creation of the work.

It should be noted that registration of IP in Australia does not automatically mean registration will protect your IP overseas. Australia is a signatory to a number of international treaties. If you are conducting business overseas and want to protect your IP rights internationally then it is prudent to register your IP interests with the particular country in which you wish to trade. This can be accomplished by direct application to the country (or for Madrid Protocol members, by application through WIPO).

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The material provided in this document is for general information only and is not to be relied upon as advice. No responsibility is accepted for any loss, damage or injury, financial or otherwise, suffered by any person or organisation acting or relying on this information or anything omitted from it.

Copyright © Greyson Legal 2017, All rights reserved.

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