Intellectual property

You’ve probably already considered insurance to protect your small business from accidents or damage. Did you know you can also protect your business’s intellectual property (IP)?

IP can be incredibly valuable for your small business so it’s important to understand what it is and how to protect it.

IP refers to creations of the mind such as a brand, logo, invention, design, artistic work or a new plant variety. By registering your IP, you can legally protect your idea and have exclusive rights to profit from them.

Types of IP that can be registered:

There are four main types of IP that can be registered with IP Australia, the Australian government agency that administers IP rights:

trade marks – protect your logo, word, phrase, letter, number, sound, scent, picture, movement, aspect of packaging, or any combination of these. A trade mark is one of the most commonly-used IP rights for a small business as it protects branding and helps customers distinguish a good or service in a competitive market.
patents – protect any device, substance, method or process that's new, inventive and useful
design rights – protect the overall appearance of your new and distinctive product
plant breeder’s rights – protect the new plant variety you have developed.

Applying for intellectual property registration

Trade marks, patents, design rights and plant breeder’s rights need formal application and examination before you can claim a right to ownership. Protecting your great ideas with IP rights can lead to lasting benefits for your business.

To get started on your trade mark journey, IP Australia has created the free TM Checker tool for small businesses to check potential registrability of their trade mark and then apply.

To learn more about these IP rights and how to apply for registration, visit the IP Australia website.

Tips for protecting your IP

Don’t promote or disclose your idea to other people before you register your IP. If you do, make use of non-disclosure agreements or confidentiality clauses in contracts.
Keep records to help you prove the idea is yours.
Identify your IP assets and do your research to ensure your idea is new and original.
Consider consulting with an IP professional to develop an effective strategy tailored to your business needs.

Want more information?

Here are some useful resources to help you get started:
•    For an overview of IP rights and best practices for managing and protecting these assets, take a look at IP Australia’s IP basics guide
•    IP Australia’s Business Resources page is a one-stop guide to tools and information, including Choosing the right IP tool and TM Checker.
•    If you register a trade mark, patent, design or plant breeder’s right in Australia, it does not protect you in other countries. Learn about the process for protecting IP in other countries.
•    Watch an on-demand webinar on a broad range of topics from the basics through to international use of IP.