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Strategies to protect your IP

Don't give away your most valuable asset!

You may lose your legal right to ownership of an innovative product or idea if you make knowledge of your IP public too early.

Be diligent in safeguarding and maintaining secrecy, communicating your legal rights and, if necessary, defending your rights through legal action. Legal protection will help preserve your intellectual investment and ensure that only you can turn your ideas into a commercial reality.

You can protect your IP by using one or more of the following strategies:

Commercial strategies such as:

• trade secrets and confidentiality agreements to protect proprietary knowledge;
• rapid production and development for products with a short life span.

Formally registered rights:

• patents;
• trade marks;
• industrial designs;
• plant breeder's rights;
• business, company and domain names.

Automatic rights (no formal registration required):

• copyright;
• circuit layout rights.

Legal protection:

• under common law-for infringements of trade secrets, passing off of trade marks and breach of confidentiality agreements;
• under consumer protection (fair trading) legislation in the Trade Practices Act.

Combining various strategies will maximise your protection and the potential of your business.

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