Intellectual property is just that – the property of your intellect that you have used in your business. This can be the design layout, your trademark, logo and product designs. This intellectual property differentiates your product from another of similar nature and appearance. Some common forms of intellectual property are patents on inventions and copyright on music, film and art.
Most people only consider the physical assets of their business such as equipment, stock and the premises to be valuable, however intellectual property is now becoming one of the most valuable assets you can develop. Many companies produce the same products, let’s say tables – but the design, branding and production processes of these tables can be quite distinctive, all reflective of the intellectual property differences.
Intellectual property does not cover your business, company or domain names. There are no proprietary rights for these however there is for your trademark. Find more information on the differences here.
Trademarks are not expensive to secure – An initial $120.00 and then $300.00 to register when approved. This is for 10 years. You can find out how to register your trademark here. More about fees here.
The IP Media Centre is a good source of Intellectual Property information for Australian businesses.
The Australian, Hong Kong and Singapore Governments have developed a great tool for protecting your IP assets and it’s totally free and secure. Intellectual Property Explorer