Friday, July 8, 2011

What Is IP (Intellectual Property)? Part 1

What is IP?

Intellectualproperty represents the property of yourmind or intellect. In business terms, this also means your proprietaryknowledge.

Types of IP in Australia

There are 5 different types of IP in Australia :


    What is a patent?

    A patent is a right grantedfor any device, substance, method or process, which is new, inventive anduseful.
    A patent is legallyenforceable and gives the owner the exclusive right to commercially exploit theinvention for the life of the patent. This is not automatic, you have to applyfor a patent. All applications for patents are examined to ensure they meet thenecessary legal requirements for granting a patent.
    Patents give effectiveprotection if you have invented new technology that will lead to a product,composition or process with significant long-term commercial gain.
    You cannot patent artistic creations, mathematicalmodels, plans, schemes or other purely mental processes

    Apple patent filings hint at iPhone evolution

    What is an Innovation patent?

    The innovation patent is aprotection option specifically designed to protect inventions that do not meetthe inventive threshold required for standard patents. Introduced in 2001 tostimulate innovation among small to medium business and local industry, theinnovation patent is a relatively fast way to obtain protection for your newdevice, substance, method or process.
    The owner of anynew and useful invention that involves an innovative step can apply for aninnovation patent.

    Tune in next Friday for Part 2: "What is A Trademark?"

    Image Source"
    Iphone Patent :

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