Intellectual property (IP) is one of the most important – and often overlooked – assets for business owners.
Understanding intellectual property for business owners is essential to protecting your brand, ideas and competitive edge. Failing to safeguard your IP can lead to copycats, lost revenue and diluted brand value.
This article explains what every business owner should know about identifying, registering and enforcing their IP rights, and how Business Law WA’s Commercial Legal team can help.
What is intellectual property in business?
Intellectual property refers to creations of the mind that give your business a commercial advantage. The main types include:
- Trade marks – business names, logos, slogans and taglines
- Copyright – written content, images, software, music and designs
- Patents – new inventions, processes or technologies
- Design rights – the visual appearance or packaging of a product
- Trade secrets – confidential assets such as formulas or customer databases
These rights help prevent others from using your ideas without permission, but only if you take the right steps to protect them. Read more on the types of IP.
Benefits of protecting IP: why it matters for your business
Protecting intellectual property in business helps safeguard your revenue, reputation and innovation. For example:
- A trade mark stops competitors from copying your logo.
- Copyright protects your website content, social posts and graphics.
- A patent can give you exclusive rights to a product innovation.
IP is also an asset class. It can help attract investment, secure partnerships, and drive business growth, especially in the tech, design and e-commerce sectors. To leverage IP as a commercial opportunity. You can:
- License your software, branding or products to other businesses
- Transfer or assign IP rights during a merger or acquisition
- Use IP in your pitch to investors or for valuation
Proper registration and documentation of IP can ensure legal ownership and the ability to take action against infringement.
We offer advice on technology licensing, franchising and commercialisation strategies to help you make the most of your intangible assets.
How to register and protect intellectual property in Australia
The business IP registration process in Australia depends on the type of IP.
Trade marks must be registered with IP Australia. Business Law WA’s Commercial Legal team can help you prepare applications, check for conflicts, and ensure your brand is protected. Learn more about trade mark basics.
Copyright is automatic, but it’s essential to understand what it covers and how to enforce it. We help businesses understand their rights and how to enforce them.
While costs vary, simple trade mark applications typically start from a few hundred dollars and take 3-6 months to process.
Tip: Always conduct domain name and Australian Securities and Investments Commission (ASIC) business name searches before committing to a name or brand.
Who owns the IP created by employees or contractors?
IP ownership can get murky, especially when created by contractors or employees. Make sure contracts clearly state who owns what from an IP perspective and include confidentiality clauses.
Without the right clauses, a freelance designer could legally own your logo. To avoid disputes, Business Law WA can draft or review clauses in employment and contractor agreements.
What to do if someone infringes on your IP
Common types of IP infringement include stolen branding, copied website content, or counterfeit products.
If you suspect infringement:
- Gather evidence (screenshots, timestamps, examples)
- Get legal advice before contacting the offender
- Monitor your brand online to detect issues early
If you’re accused of IP infringement, it’s equally important to respond carefully. Business Law WA’s Commercial Law team can advise on the best course of action.
Free legal document review
Business Law WA is offering a complimentary Red Flag Review of documents including employment contracts and workplace policies (the terms of which can be accessed here).
Protecting your business IP internationally
IP rights are territorial. Registration in Australia doesn’t automatically protect you abroad. If you export or sell internationally:
- Register trade marks internationally via the Madrid Protocol – the primary international system for facilitating global trade, of which Australia is a signatory member
- Consider patents or design rights in key overseas markets
- Review licensing agreements for international use
Don’t leave your IP to chance
Protecting your IP is one of the smartest investments you can make. Whether it’s registering your business name, reviewing a software license, or responding to an infringement claim, Business Law WA’s Commercial Law team is here to help.
Get in touch with Business Law WA’s Commercial Law team to discuss intellectual property and protect what makes your business unique. Contact us on 08 9365 7746 or via [email protected].
