Small businesses can now manage their patents, trade marks and other valuable intellectual property (IP) assets with a new online tool launched by IP Australia.
IP Explorer, a joint development between the Federal Government agency and the governments of Hong Kong, China and Singapore, helps business manage their IP assets by assisting in identifying and analysing a business’ IP with regard to inventions, designs and brands.
“Many businesses are surprised at how many IP assets they have and how valuable they are,” said Parliamentary Secretary for Innovation and Industry Richard Marles.
“Each day, businesses sell goods or services, but over time they are building up goodwill, brand recognition and a reputation based on a standard of service or quality of their product. That’s why it is crucial these intangible assets are identified and protected.”
He added: “Reviewing IP assets is particularly important when buying or selling a business, seeking investors, or looking to export.”
IP Explorer is an Asia Pacific Economic Cooperation (APEC) project under its Intellectual Property Experts Group (IPEG), which initiated the tool as part of its work program to help small businesses build their capacity to engage in international trade.
The free tool:
- Introduces IP concepts in plain English.
- Provides a step by step guide to reviewing IP assets including copyright, patents, trade marks and designs.
- Gives practical advice on how to avoid commercial risks, which could result in costly legal proceedings with employees or third parties.
IP Explorer can be accessed at www.intellectualpropertyexplorer.com
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