Intellectual Property Australia observes that intellectual
property is the "property of your mind or proprietary
knowledge and is a productive new idea you create". This
includes inventions, trademarks, designs or processes that you come
up with. Slogans, logos or even general ideas around branding may
all fall under the definition of intellectual property. Registering
your intellectual property gives you exclusive rights for a
restricted duration and within certain boundaries.
It is an unfortunate reality that many businesses neglect the
ownership of their intellectual property and its inherent value.
According to the Australian Bureau of Statistics, 67.1% of
businesses with 0 to 4 employees do not use any method of
Intellectual Property protection. Commercial entities can innovate
and expand their brand as IP rights are protected through the
creation of the business themselves. Protections include the use of
patents, copyright and registered designs and trademarks.
