he\u2019s seen a 100% increase<\/a> in small firms approaching him over the past year for IP help. Brennan says that increased use of the internet has opened the floodgates to disputes over IP.<\/p>\n\u00a0<\/p>\n
With this in mind, StartupSmart.com.au has put together 10 ways you can protect your business ideas and brand.<\/p>\n
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1. Get a trademark<\/h2>\n
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As soon as you come up with a logo, slogan or brand name, make sure that it doesn\u2019t clash with existing trademarks and apply to get it registered. This will help deter copycats.<\/p>\n
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The filing of a trademark costs around $1,600 and it will take seven months to come into effect, to allow others similar claims to emerge. Very descriptive words that are used generally by other firms make very bad trademarks, so try and be distinctive with your brand and logo.<\/p>\n
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Even if you don\u2019t register a trademark, you still have rights if you used it first, although you aren\u2019t on as sure a footing, according to Ida Pereira, associate trade mark attorney at HP firm Griffith Hack.<\/p>\n
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\u201cIt\u2019s much easier to prove your trademark with certification,\u201d she says. \u201cRelying on common law of being first is a lot more expensive, relies on your reputation and requires you to gather evidence.\u201d<\/p>\n
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2. Get a patent<\/h2>\n
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Many people think of patents as being used for ground-breaking engineering feats involving widgets, but they can be used for a variety of innovations. This can include anything from software to your method of doing business \u2013 for example, Amazon\u2019s \u2018one click to buy\u2019 concept.<\/p>\n
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Patents need to be based on something physical, rather than abstract ideas. You can file for a provisional patent, which gives you protection for 12 months while you develop your idea into a full patent. This will cost you between $5,000 and $10,000. The process then moves in stages, depending where you want your patent to apply. For example, a patent effective in 10 different countries can cost anywhere between $100,000 to $200,000.<\/p>\n
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3. Be careful who you discuss ideas with<\/h2>\n
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When you concoct an idea for a start-up business, it\u2019s natural to be excited and blurt out your concept to family and friends. Indeed, many successful businesses have been shaped by the early advice and support of people close to the founder. However, tread carefully.<\/p>\n
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\u201cI\u2019ve seen a few cases where someone has told friends and family an idea and the idea has found its way to a competitor,\u201d says Joe Seisdedos, senior associate at Griffith Hack.<\/p>\n
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\u201cYou have to be careful even when talking to friends and family. Once an idea is out there, you can\u2019t really draw it back in. Generally, the law says that if you disclose an invention to others, even if they are friends and family, your ability to get a patent may be seriously compromised.\u201d<\/p>\n
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Seisdedos advises start-ups to talk to an attorney before discussing any innovative business idea and demand that non-disclosure agreements are signed by potential business partners. Even if they won\u2019t sign NDAs, an agreement in principal, agreed over email for example, should be enough to protect you.<\/p>\n
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4. Use your protection properly<\/h2>\n
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Even if you feel your business is protected, you can still slip up. Be aware that the name you registered your business under isn\u2019t the same as trademark law \u2013 they are two separate processes you need to go through.<\/p>\n
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Once you have your trademark, make sure you use it properly. Don\u2019t use it in plural form and make sure that you use it as a noun rather than a verb. Once you get a trademark, you have five years to start using it. If another business realises that you haven\u2019t been using it in the way it was intended, they could get your trademark removed to their advantage.<\/p>\n
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5. Don\u2019t let your brand become generic<\/h2>\n
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Escalator. Hoover. Band-Aid. All are terms that were once brand names but are now used generically for the functions they perform. Make sure your brand remains unique, or others will be able to muscle in. Consider adding the function of your product along with the brand name to ensure consumers draw a difference between the two.<\/p>\n
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6. Don\u2019t get swallowed up by a rival<\/h2>\n
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Some start-ups can get sucked into the web of larger rivals that promise to expand their business. Without proper IP protection, the start-up can find that their ideas are stripped away without recourse. Even a patent won\u2019t deter some rivals.<\/p>\n
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Paul Brennan says: “Some large companies say to a small firm ‘come with us, we’ll take you with us and franchise you.’ You can get merged in and once you lose everything else, all you have is your IP.”<\/p>\n
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According to Seisdedos, big business will usually attempt to get your product or idea under license rather than crush any patent entirely.<\/p>\n
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\u201cMany larger companies would rather talk to you with a view to licensing the technology\u201d he explains. \u201cIf they knock over the patent entirely, then it\u2019s available to all of their competitors, so it\u2019s in their best interests to work with you rather than against you.\u201d<\/p>\n
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7. Think ahead with your trademark and patent<\/h2>\n
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Your start-up may be currently operating out of a spare bedroom in the suburbs, but you probably have grand plans for your business. If so, you need to think ahead to safeguard your IP.<\/p>\n
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Rather than just getting trademark cover for your existing operations, think about areas you\u2019ll soon be expanding into and get the same protection. With a five-year window for trademarks, this should give you the time to eventually take advantage.<\/p>\n
8. Protect yourself overseas<\/h2>\n
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Your planning should also include what will happen if you expand overseas. Establish your brand certification in other markets before taking the plunge, or the move could backfire.<\/p>\n
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\u201cTrademarks are territorial by nature,\u201d says Pereira. \u201cDo a proper search before you expand because you don\u2019t want to re-brand once you\u2019ve launched in another country.\u201d<\/p>\n
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9. Take action if others violate your brand<\/h2>\n
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If your trademark or patent is being trampled upon, don\u2019t be afraid to take action. By doing nothing, you will give other businesses an invitation to exploit your IP.<\/p>\n
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Talk to a lawyer about the situation and ask them to send a \u2018cease and desist\u2019 letter. This usually works, according to Seisdedos.<\/p>\n
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\u201cA lot of cases are settled before they go to court due to the cost,\u201d he says. \u201cI\u2019d say about 60 to 70% disputes settle outside court. It\u2019s normally preferable to work it out this way.\u201d<\/p>\n
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10. Don\u2019t be intimidated by the cost and time<\/h2>\n
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Establishing and protecting your IP may seem like a time-consuming and costly process, but it shouldn\u2019t be overlooked as a priority when starting up.<\/p>\n
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\u201cMany people think IP costs a lot of money and start-ups are usually time poor,\u201d says Seisdedos. \u201cBut it often doesn\u2019t end in litigation and start-ups should always keep their IP in mind.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Intellectual property may feel like an abstract concern for time-poor start-ups, but the need to protect your business ideas are<\/p>\n","protected":false},"author":2,"featured_media":61385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39392"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=39392"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/39392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61385"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=39392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=39392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=39392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}