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    King
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    One area of business that is owften overlooked is intellectual property (IP)

    IP is a hot issue and covers such things as copyright, trademarks, patents, designs, and confidentiality and trade secrets.

    Its definition is

    Intellectual property represents the property of your mind or intellect. In business terms, this also means your proprietary knowledge.

    IP is what many franchises base their value on – that is the business systems they have developed, plus logos etc. A famous example is Eagle Boys who trademarked pink exteriors on buildings.

    If you have an idea to patent, including business processes then the IP site says:

    If you demonstrate, sell or discuss your invention in public before you file a patent application, you can lose the opportunity to patent it.

    You may talk to employees, business partners or advisers about your invention but only on a confidential basis. Written confidentiality agreements with these people are advisable.

    So while we watch The New Inventors on ABC TV, think of IP in a wider context. Think about business and manufacturing processed that can be documented and sold (or protected).

    Think also about names and words. One obvious one is ‘Crikey’. So if you are wanting to produce (or even sell) Tshirts with the word Crikey on it, you could land yourself in legal trouble. The same goes for True Blue – under various classes of goods.

    So while we watch The New Inventors on ABC TV, think of IP in a wider context. Think about business and manufacturing processed that can be documented and sold (or protected).

    Do you have any examples of IP that you have protected? (or lost)

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