A recent study about it shows that 67.1% of small businesses in Australia with zero to four employees have no form of intellectual property protection in place. This means that infringement and violation of intellectual property in particular trademarks could happen at any time.
Despite the lack of information drive, Australia has one of the strongest intellectual property regimes known to the developed world. It is in the top ten.
So what exactly is this property that Australian businesses needs to know more about? Intellectual property based on Australian law is the product of an entity or someone who uses their individual and collective minds to create something that is original and never before seen in the modern world.
There is intellectual property in everything that a person does, such as the following:
· Object shapes.
· Trade secrets
· Words used in trade;
There are different types of Intellectual Property that one may need to protect, they are the following:
1. Patents – the patents apply to products and processes that are either in new form or improved by the developer or creator. A patent is often synonymous with something that is proprietary which means that it is something unique.
2. Trade Marks – the trademarks applies to whatever a business may use in order to distinguish themselves from others. This would include packaging, letters, logos, pictures, sounds, smells, and pictures. It may be a combination of any symbol.
3. Designs – apply to the shape of goods. This would include tangible things such as coke bottles, any bag that uses a certain shape.
4. Plant Breeder’s Rights – whenever there are new plant breeds, this is the one that would protect the rights of the plant breeders.
5. Copyright – for the original material that can be classified as artistic is something special to the senses and this is protected by the Australian laws on Intellectual Property/
6. Circuit Layout Rights – a relatively new level of intellectual property protection includes electronic circuits.
7. Trade secrets – any kind of information that cannot be shared with others as it is what makes a project unique.
It is important that business owners understand the value of the intellectual property within their business and take steps to protect it.