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Research and marketing
Why you should research IP
Reviewing relevant literature can save a lot of time, money and effort. A
patent, for instance, will not be granted unless your idea is novel. A search
of the patent database will give you a very good indication of whether or not
your idea is new.
If your invention is described in a patent which is no longer in force, you cannot get a patent yourself and it's likely other firms will already know about the technology.
Also, if the owners have allowed the patent to lapse, there may be doubts about the invention's commercial viability.
At the very least, a thorough search can help you evaluate your own ideas and provide you with a more advanced starting point for research.
Before lodging an application to register a patent, trade mark or design, you may find it useful to conduct a search of existing records. However, conducting a thorough search can be complicated, so you may need to employ a legal practitioner or search firm to do it for you.
Before significant business decisions are made, including deciding to lodge a patent, trade marks or designs application, you would be well advised to obtain professional advice.
Be sure you're not infringing someone else's IP rights
Research your idea thoroughly. An infringement may be accidental, and may even be minor, but it could still cost you a small fortune!
It's a good idea to search the trade mark database if you are looking to register a business name, company name, domain name or developing a logo or image. IP Australia offers a search service to check whether your proposed name or image is similar to a registered trade mark. This can save you time and reduce the likelihood of infringing someone else's trade mark. So now you have every opportunity to protect yourself!
A search can also ensure that none of your competitors are infringing on your IP rights. You can also take the opportunity to object to any pending grants of IP to one of your competitors if you believe that it is infringing on your IP rights.
To search our databases simply follow one of the links in the Online Services box on the left side of the screen.
Don't miss any opportunities to market your IP!
The more you exploit and position your IP in the market place, the more value that property will have when it comes to licensing it or selling your business.
We all know that sometimes you have to spend money to make money. The same
principle applies when it comes to developing your IP. Increasing the value
of your IP will usually require ongoing investment in marketing and promotion,
for instance, to develop and maintain the reputation and recognition of your
business (your goodwill).
You may also need to invest time and money to ensure that others are not using your IP. This means searching databases and other sources for possible infringements, and being prepared to take formal action if necessary to protect your IP in the marketplace.
With diligent and dynamic marketing strategies in place, you will also be in a perfect position to take advantage of any opportunities in the market as they arise.
Don't let this happen to you!
Many of you will remember that some years ago, there were 2 major competing formats for the video market-beta and VHS. At the time, Sony was the sole manufacturer of beta video format and originally had the edge in the market because of its quality.
There were a number of contributing factors to beta's eventual downfall in the home consumer market, including a lack of diligence in marketing and support for the product. The VHS format was marketed aggressively to the home market (there were always far more VHS tapes in the video stores, for example), to the point where the market perceived VHS as the 'way of the future' and abandoned the beta format in droves.
Beta no longer exists on video store shelves today, although it is actually the better product. Even today, beta is by far the most popular format being used by professional film crews all around the world because of its superior quality.
Sony missed an opportunity in the market to build on a major strength of their IP (their product's reputation of quality among others, particularly in non-US markets), and allowed their competitors, with an inferior product, to force them out of a major market segment.
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