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What is the value of intellectual property for small businesses?

MEDIA RELEASE

Friday 1 September 2017

The value of Intellectual Property to a small business can be essential to their existence. But what is Intellectual Property and why is it so important for a business to understand their rights and obligations in protecting it?

The Office of the Small Business Commissioner are encouraging businesses to learn more about Intellectual Property (IP), and through a free information session, hope to simplify what can be a difficult topic to navigate. From the early stages of an idea forming to the development of a prototype, varying levels of IP require different levels of protection and registration.

“Intellectual Property Law is detailed and complicated and most small businesses don’t have time to sift through the information to find what is relevant to them,” Small Business Commissioner John Chapman said.

This event aims to give personal and specific advice about the various areas of IP and where to turn for more help. “IP Australia offer some great online resources for businesses, but being able to speak with someone face-to-face is often an easier and more effective way to communicate the information,” said Mr Chapman.

“We often hear stories about business people who put their trust in the wrong hands were given the wrong advice about their IP, or are in a dispute over IP ownership,” Mr Chapman said. “It’s sad to know that this could have been avoided by speaking to the right people.” This event will provide businesses with valuable advice from an expert in the field of intellectual property and competition law.

Partner at Thomson Geer Lawyers, Josh Simons, will present this event which will explore what intellectual property is and the varying categories of intellectual property, common intellectual property mistakes by businesses and how to overcome them and relevant information on how to recognise, protect and enforce your intellectual property.  

"In today's information age, intellectual property rights are often key commercial assets.  The value of famous intellectual property like the NIKE trade mark, iPhone patents or copyright in music, movies and computer software is obvious, yet smaller businesses often don't appreciate the value in their own innovations” said Mr Simons.  

“Understanding what intellectual property is and how to manage and protect it can mean the difference between success and failure, and should be a priority for all businesses."

The Protecting Your IP event is being held on Thursday 21 September 2017, 3:00pm – 4:30pm at the Small Business Centre Boardroom, Level 13, 99 Gawler Place, Adelaide and also being offered as a live webinar.

Registration is essential as places are strictly limited. For more information or to register visit the Office of the Small Business Commissioner website at www.sasbc.sa.gov.au/events or contact the Office on 8303 2026.

Media contact: John Chapman, Small Business Commissioner on 8303 2026.

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