IP rights are a powerful tool for small business owners and innovators. They protect your unique products, services, and brand identity, preventing others from copying or exploiting them without permission.
Considering how you will protect your competitive advantage is key to your business sustainability.
In this article we talk about the four registrable IP rights and share stories from Australian business owners.
But first let’s talk about IP.
What is my IP and how do I look after it?
IP refers to creations of the mind. It could include a brand, logo, invention, design or artistic work, or new plant variety. It's what sets your business apart from others – your unique selling point.
Protecting your IP to make sure others don’t copy it or misrepresent you in the marketplace can be an important element of your business strategy.
There are four registered IP rights you may want to consider when protecting your unique idea:
- A registered trade mark protects your unique brand, name, logo or even an aspect of your packaging.
- A patent protects any device, substance, method or process that’s new, inventive and useful. For example a new pharmaceutical product, medical device, or a new machine.
- A design right protects the overall visual appearance of new and distinctive products – a unique design for a chair or a phone as an example.
- A plant breeder’s right (PBR) protects your new plant variety. This might be a new variety of rose, grass or fungi.
IP Stories
Do you have a radical innovation, invention or new idea? It's important to protect what makes your business unique – that’s your competitive edge. A registered IP right might be right for you.
Now you have an idea of the different IP rights, here are stories from entrepreneurial Australian women who have protected their own IP, utilising different rights and strategies to fit their unique needs. You may find that using a combination of IP rights is the most effective strategy for you too.
Sarah from DesignByThem learnt the importance of having a design right. Based in Australia, the company is run by designers who are dedicated to creating and producing unique products for design professionals and enthusiasts alike.
"There was a product, a letterbox that we designed, and it was copied by a supplier that was supplying to that hardware store. A lot of our customers were really angered by this because it was almost like a brand perception issue as well, tarnishing our brand. There was a couple of letters back and forth, and we did manage to get them to change their design. But I do think in retrospect, had we had that design registration, it would have been a lot easier as a process to litigate. We're kind of fortunate that that lesson was learned at the start."
Rebecca from Soap Di Villa used trade marks to create a strong brand, with the decision to apply for a trade mark going hand-in-hand with marketing of the brand itself. Rebecca commenced trading under the ‘Soap de Villa’ brand after developing a unique product to alleviate her discomfort with an ongoing skin irritation issue and finding little to no relief from the existing products on the market. Embracing her inner entrepreneur, Rebecca saw an opportunity to fill a gap in the market by producing soap made from goat’s milk.
"At the very early stage, we have decided to actually create a brand, we want Soap de Villa to be a recognisable brand in our industry. And so by having a trade mark together with our connection with Australian Made logo, it has helped us to build our reputation."
To check if your trade mark is available in Australia, you can use the TM Checker tool. TM Checker makes it easy to identify potential conflicts, estimate application costs and get an idea of the application process time. An initial check only takes a few minutes and is free. If you decide to apply, it can cost as little as $330 and lasts an initial period of 10 years. The cost to protect your IP is an investment in your business.
Dr. Michelle Wirthensohn from the University of Adelaide's Almond Breeding Program has seen the commercial benefits from investing in plant breeders' rights. Almond breeding is a growing industry for Australia, and with plant breeder's rights in place, it's becoming more competitive globally. Navigating the complexities of collaborative ventures can be challenging. When it comes to commercialisation and collaboration, there's no one size fits all approach.
"The almond breeding program uses the plant breeder's rights to protect our intellectual property, which is in this case, is the almond varieties. It allows us to decide who propagates the trees, and also it generates an income stream which is very important to keep the almond breeding program going ahead."
IP tips, tools and resources
These tips for protecting your unique ideas and our free tools and resources can help you avoid common IP-related mistakes so you set yourself up for success:
Know your IP
Identify your IP assets. What sets you apart from competitors? Understand what your IP is worth to understand if it's worth protecting.
- Our Choosing the right IP tool is free and can help you identify what type of IP protection you may need. Let the tool decide for you in two easy steps.
- Our IP Basics factsheets provide you with the IP knowledge and tools you’ll need to establish and grow a successful business.
Do your research
Research the market to understand your competitors and consumers. Ensure your ideas are new and don't infringe on existing IP rights.
- TM Checker is a free tool designed to assist small to medium enterprises in checking the availability of a trade mark. An initial check only takes a few minutes and is FREE.
- Before applying, search existing IP rights to make sure that your idea is new.
- If you’re looking to collaborate and commercialise your idea, consider an IP strategy, your co-created IP, the risks involved in collaboration and your commercialisation options.
Beware of early publicity
If you are considering a patent or a design right, it's important not to share your idea. Publishing your idea before it's protected may impact your ability to be granted the registered right.
Keep it confidential
If you must talk to others about your IP, use a non-disclosure agreement (NDA) to protect your ideas. You can use our IP contract generator to create one for you.
Accelerate your progress – back yourself.
We can help you get started today. To learn more on what IP rights can do for you check out our business resources or hear more IP stories from other Australian businesses.