IP Protection – Necessity or a Waste of Money?
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Servcorp Business Shorts presentation by Brendan Sheehan from Hunt and Hunt, on "IP Protection – Necessity or a Waste of Money?"
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Patents
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Setting Up Business in a Foreign Country
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This document provides an overview of intellectual property rights from an Indian perspective. It defines intellectual property as creations of the mind used in commerce. The main types of intellectual property rights covered are patents, trademarks, industrial designs, copyright, and geographical indications. Case studies show some examples of intellectual property infringement in India. The conclusion emphasizes that intellectual property rights reward creativity and protect innovations, outlining steps taken by the Indian government to strengthen these protections.
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2. The major types of IP are outlined as functional/technical inventions protected by patents, artistic works protected by copyright, and symbols/logos protected by trademarks.
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- 1. IP Protection: Necessity or waste of money? Brendan Sheehan Senior Associate 26 September 2012
- 2. Overview In focus: 1. What is IP and why is it valuable? 2. How do we protect IP? 3. Tips and traps! 2
- 3. What is IP and why is it valuable? Types of IP| Examples | How can you use your IP? | 1 3
- 4. Types of Intellectual property • Intellectual property takes many forms – Business names / domain names – Copyright – Trade marks – Designs – Patents – Trade secrets – Confidential information – Circuit layer rights – Plan breeder’s rights • IP rights in Australia not automatically protected overseas – Generally territorial – Some arise by use 4
- 5. How can you use your IP? • Some of the possible benefits of IP (subject to the law) – Generate revenue – Raise prices – Achieve dominance in a market – Add value to the business as a whole • Some practical techniques – Licensing – Restricting supply in a market – Sale of IP 5
- 6. How do we protect IP? Audit | Understand | Registration | Action | 2 6
- 7. Audit • An audit of IP is the first step towards a successful strategy – Identify potential IP – Identify nature of each item – Determine whether the business has exclusive rights – List all registered IP and an estimate of its value – List all other IP and an estimate of its value – List any other intangible assets 7
- 8. Understand • Understand the nature of IP • For example, design or copyright? – Distinction important – Copyright automatic – Design must be registered 8
- 9. Register • Register all IP that can be registered • Registrable IP – Patents – Trade marks – Designs – Plant breeder’s rights 9
- 10. Act • Copyright, circuit layer rights and trade secrets are not protected by registration and require different methods of protection – Confidentiality agreements – Staff training – Other strategies 10
- 11. Practical tips and traps! Problems | Common mistakes | Tips | 3 11
- 12. Problems • “I thought it was a company” • “Everybody else does it” • “It’s on the internet” • “I just signed it, I didn’t read it” • “I checked Wikipedia” 12
- 13. Common mistakes • That IP protection is universal • Assuming that all procedures and laws are the same worldwide • Not using IP protection systems • Applying too late for IP protection • Disclosure of information without Confidentiality Agreement • Disclosure of design before commencing registration • Infringing IP rights of others • Not defining IP ownership in outsourcing manufacturing • Licence IP in market where licensed design/patent not protected • Using a TM that is inappropriate in overseas market 13
- 14. Tips! • Do you homework • Due diligence • Be informed • Seek assistance from Government and trade bodies • Get advice 14
- 15. Questions? Brendan Sheehan Senior Associate Hunt & Hunt T +613 8602 9215 E bsheehan@hunthunt.com.au www.hunthunt.com.au