Intellectual Property Law is the means by which you can seek to protect items such as an invention, a trade mark, a design, or the practical application of your idea. For your Intellectual Property (IP) to be protected it must be new or original and different to what is already available in the relevant market.
Types of IP protection:
- Registered Design
- Trade Mark
- Other – trade secrets and confidential information
- Plant Breeder’s Rights
IP Australia has a useful table which outlines various types of intellectual property, the type of protection required and what it means for you.
Your IP protection may attract tax implications such as capital gains tax and stamp duty. This varies depending on your circumstances, so it is wise to speak with your accountant regarding this.
It is also important to keep in mind:
- IP has many of the same ownership rights as physical property;
- It is important that you manage your IP; and
- The creator of IP is not necessarily the owner.
At NQ Legal, our solicitors can help you establish your Intellectual Property rights and protect them from infringement.
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