Have you heard the common misconception that IP rights are the
domain of big companies and that intellectual property (IP) is too
expensive for Australian SMEs? We have some good news for you -
it's definitely not true that you need a big budget to have an
effective global IP plan - especially if you are prepared to learn
a little.
Recent studies* have shown that SMEs holding a
single IP right, whether a patent, trade mark or a design, have 67
per cent greater revenue per employee than their competitors
without any IP rights.
Your SME's New Product Development Plan should always
include an IP plan. While working with a good patent and trade mark
attorney, and with the right approach, IP protection is affordable
and should always be considered.. When forming on an IP plan, some
basic DIY can help reduce IP costs and provide a solid foundation
to work with. It might also help to work with supporters who have
travelled the commercialisation road before, who can
