This transcript is for the video Phil Simms - Chief Executive Officer, Fruchocs.
What’s unique about our product is that we’re quite diverse in what we do, were involved in confectionary right through to process fruit products. So we’re quite we have a broad portfolio of products from a marketing point of view we’re quite niche in how we go about things. We have some specific market channels that we compete in quite strongly and there are others that we purposely avoid. So we’re Australian owned business going into a market that is very much dominated by multi nationals.
Our history on Trade Marks and the importance of Trade Marks goes back I would say around the 1970’s. Where the background of our business is very much about commodity selling you know bulk product in a carton at a price whether that’s local or export. Where the importance around developing a brands and then protecting them through our IP was born in around the 1980’s when we started developing branded product for the retail market place.
Registering Trade Marks was in the early days a little bit scary in that it’s how to go about it, it really was a lot of mystic for us, but look again through education and training and I suppose a passion to develop our own brands we became aware that IP Australia existed how the process works and working through that we’ve had a number of valued partners in our business who have given us some very good advice and of course it’s a process now that is very valuable and the area of our business that we hold very closely.
We’ve had to protect our position around brand because on a couple of occasions where we’ve had organisations who wanted to leverage off what is a very valuable brand asset of ours. In those situations we've had to send a letter to highlight the fact that this is a registered Trade Mark that we own a very valuable brand asset.
Through IP Australia that’s very important process to make sure we’ve that we have ownership over those brands we have the confidence to continue to invest in those brands forever in a day and of course it strengthens our balance sheet.