IP SPOTLIGHT 1 June 2020

KNOW THE ‘ I P LANDSCAPE’ This is about understanding what is happening in the business environment relevant to the business. It helps identify what customers and competitors are doing. It enables a company to better determine what IP is being created by them, thus reducing the risks of infringement, as well as identifying opportunities for licensing brands and technologies (both ‘in’ and ‘out’). It also assists in identifying any potential third-party infringements of the IP. Knowledge of the ‘IP landscape’ can be achieved by maintaining a general awareness, for example, by reading trade and scientific publications, attending conferences, or talking to colleagues. More formal searching techniques can also be used, for example, through the use of free databases available using the Internet. PROMOT I NG AN ‘ I P CULTURE’ I N THE WORKPLACE – – Having a healthy IP culture in the workplace can greatly assist with IP management issues. – – Provide education and awareness training for employees. – – Nominate an ‘IP Champion’ – someone who is a primary contact for IP matters. – – Encourage and reward employees for their innovations.

WHAT ARE THE R I SKS OF POOR I P MANAGEMENT? – – Money can be wasted because third party rights restrict the utilisation of work that has been done. – – Opportunities may be lost because a company is unable to stop competitors or generate an income from royalties. – – IP that has been created is taken and used by ex- employees or contractors. – – A company could be on the receiving end of an infringement lawsuit. ACT ION I TEMS – TRADE MARKS CONS I DERAT IONS – – What marks do I have/will I have? – – Where am I using them now and where will I use them in the future? – – How am I using them? – – Are they registrable where I use them/will use them? – – What is my trade mark budget?

ALBERT FERRALORO Principal

ADRIAN HUBER Special Counsel

About Wrays

Wrays is one of the largest independent IP specialist firms in Australia – bringing together the right combination of experts to protect, grow and defend our client’s intellectual property assets locally and globally for 100 years.

And when you combine our passion for achieving the best result with our broad capability across the IP spectrum, it’s our clients who enjoy the benefits. In day-to-day reality, this means bringing the right people in the room every time and working together across disciplines to deliver what’s needed.

It doesn’t stop there. Through our extensive local and global networks, we can connect clients with like-minded experts who deliver supporting services, such as private equity, tax advisors, corporate and employment law, as well as IP specialists around the world servicing other jurisdictions. wrays.com.au

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