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The importance of IP for your business
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Business opportunities
'Keep your allies close, but your competitors closer!'
Searching is an invaluable tool to alert you to what your competitors are doing. Not only are you able to monitor your competitors' research activities, but you can keep an eye on trends in technology and emerging key players.
Technical information about your competitors' products or processes might be published in a patent specification, for example, years before they appear on the market.
Did you know ...?
More than 70% of the world's technical information is published only in patent specifications. So whether your interest is in research, product development, patenting or investment, patent information is a resource you can't afford to ignore!
Remember-if the information identified in a patent search comes from a patent that is not in force, generally it can be used freely.
During your patent search you may find a number of patents which have been granted but not commercialised. These patents may suit your business activities and you could successfully purchase or license the use of the patent after negotiations with the owner.
You can search our patents, designs and trade marks databases in our Online
Services section of this website. Alternatively, you can search our databases
in person at IP Australia's state
offices.
Our official notices,
subscription items and forms
and documents from IP Australia's online library will give you more background
on the IP environment in Australia and overseas, as well as providing more detailed
information on specific and current IP issues.
Assignment and Licensing
Assigning or licensing your IP to another party can be an effective way to exploit IP, particularly if you don't have the resources or experience to develop and market your product or service.
As with all other aspects of commercialising your IP, you need to consider if this approach fits in with your business strategy and practices.
You can also license someone else's IP. You may have a good idea but find someone else has already thought of it. Taking out a licence is a cost-effective alternative to investing in development that has already been done.
As always, we recommend you seek the advice of an IP expert to help you negotiate a good deal.
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