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Hub Talks: Learn About IP, Value, and Protection

Intellectual Property (IP) and intellectual property rights are becoming of increasing importance when it comes to operating businesses, creating art and navigating everyday life. In the recent HubTalk on IP, Value, and Protection, Clint Fillipou Principal and Managing Director at Anisimoff Legal, explained the importance of IP and how to protect yourself. The event was facilitated by our Legally Yours CEO, Karen Finch! Here are the main types of IP which were mentioned in the talk:

TRADEMARKS
Trademarks are a form of IP many of us will already be familiar with, and are usually registered in relation to a good or service. The caveat of registering a trademark is that it must be distinctive. This means descriptive trademarks like ‘strong concrete’ cannot be registered as other people within the trade should be able to use these basic descriptive terms for their product.

COPYRIGHT
Next up was copyright which is something we interact with everyday. Unlinke trademarks which must be registered, copyright vests automatically on creation (unless sold or transferred, usually in writing). Copyright is infringed where there is a substantial reproduction of a qualitative or quantitative aspect of someone’s work.

PATENTS
Patents are designed to protect novel inventions and new processes. Once registered they provide you with a monopoly for the next 20 years making them very valuable. During this time you are able to licence out your patent to others.

DESIGNS
Design rights are conceptually similar to copyright but are applied to the overall visual appearance of distinctive products. A design right aims to protect the visual appearance of physical and manufactured products.

OTHER FORMS OF ‘IP’
Other forms of IP include confidential information or trade secrets. As these materials are not registerable per se, contracts are vital. This means if you are thinking of creating a startup for a particular product, it is important that when talking with manufacturers, suppliers or donors that you make it clear that you are sharing private information on a commercial confidence basis.

To finish the presentation Clint went over 4 important steps when it comes to protecting your IP:

  • Having well drafted supply contracts, NDAs and employment agreements;
  • Protecting yourself with appropriate disclaimers on pitch and presentation materials;
  • Making sure you are comfortable that you’re not misappropriating someone elses IP; and
  • Considering whether you need someone to help protect your IP? / If your trademarks are properly registered?

A notable service offered by Anisimoff Legal is their trademark watch service which provides periodic reports on any similar trademarks that have been filed in your area. Affording you peace of mind that your IP is being properly protected.

The event was tied up by Kate Purnell from Hub Australia, with a brief Q&A.

If you yourself have any questions about IP or feel that you have IP in need of protection, please reach out to Anisimoff Legal at www.anisimoff.com.au or clint@anisimoff.com.au.