Intellectual Property

The term intellectual property generally refers to any intangible property created by a person and can include trademarks, copyright, designs, patents, confidential information, technical know-how and business and company names.

It depends on the type of intellectual property. Copyright exists automatically while patents must be registered. Trade marks can be registered or unregistered.

If you share confidential information or other intellectual property with third parties, whether for ongoing use or for a potential investment, you should protect it with appropriate use of confidentiality deeds or licences.

No, that is simply your business name, which does not come with any exclusivity. To have exclusive use of that name for trading purposes, you must also trade mark the name. If your chosen business name is too similar to an already trademarked name, you may be infringing someone else’s trade mark.

In Australia, IP Australia is the government agency responsible for managing and administering intellectual property rights in patents, trademarks, designs and plant breeder’s rights. We can help you liaise with IP Australia to have your intellectual property registered and protected.

For most types of intellectual property, the transfer must be in writing to be valid. Just like physical property, intellectual property can be transferred simply by way of a deed of assignment or contract for sale.

You receive the purchase price and the buyer receives ownership and all associated rights, including the right to use, exploit and re-sell the intellectual property. Alternatively, you can licence intellectual property, which allows others to use the IP for a price without giving any ownership rights.