Australian Small Businesses Warned To Protect IP

by Mary Swire, for LawAndTax-News.com, Hong Kong

23 February 2006

Speaking last week, Australia's Minister for Small Business and Tourism, Fran Bailey, urged the Commonwealth's small businesses to ensure that their intellectual property is safely secured, or risk putting their livelihoods in jeopardy.

The warning came following a recent survey of over 260 small businesses conducted by the Advisory Council on Intellectual Property and IP Australia, which revealed many small businesses are unaware that their business names do not provide the protection of a trade mark.

The survey found that 80% of businesses questioned incorrectly believed that registering a business name also provides trade mark protection; 50% of businesses were unaware that the same business name can be registered in different states; and 85% of respondents incorrectly believed that business name registration stops other businesses from using the same name.

In a statement, Ms Bailey explained that:

"Unlike a business name, a trade mark is an exclusive, personal property right that provides protection throughout Australia. Infringement of an existing trade mark can potentially have serious consequences for business, such as legal bills or simply being forced to change stationary and signage. One potential solution is for small businesses to also register their business name as a trade mark."

She added:

“The intellectual property of a small business, from its new ideas to how it makes products, is worth big dollars to operators. So it is well worthwhile small business investing a bit of time in investigating this issue now, to avoid getting caught in any future intellectual property tangle."

Recommended