Intellectual Property

This article discusses the importance of intellectual property (IP) in protecting creative ideas and giving credit to creators. It covers the different types of IP laws, including trademarks, copyrights, and patents, and their role in promoting uniqueness, protecting original work, and giving property rights to inventors. The article also highlights the significance of trademarks in product and service promotion and provides examples of successful trademarks in Australia.

PROFESSIONAL PRACTICE AND COMMUNICATION 1
INTERLLECTUAL PROPERTY
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Intellectual Property (IP) law is essential to all creative minds, be it scientific, artistic or
even entrepreneurial (Godart, 2010). They ensure that owners of ideas get credit and
recognition for the ideas.
IP laws include trademark, copyright, patents and industrial designed rights among
others (Madison, 2017).
A trademark distinguishes a business ("importance of Trademarks and a review of
empirical studies," 2015). It provides uniqueness to an entrepreneur and their product or
service. Despite there being no legal requirements to register a trademark, a registered
trademark gives the owner of the trademark the right to use, license, sell and take legal action
against any party that uses the trademark without permission from the owner. It is also a great
marketing tool. A business’ target group can identify a product or place of service provision from
the trademark, be it online, on social media or browsing and even physically.
In case the owner of a trademark/brand wishes to sell, a well-known trademark could be
crucial to the deal being favorable to the owner.
Trademarks also give consumers confidence in the quality of the goods and services
offered. This is due to the fact that they can always find the trademarked company in case of
any discrepancies.
Copyright mostly protects artistic ideas. They protect the original work from creative
minds ranging from musicians, authors/writers, and film and theatre producers amongst others.
This ensures a person’s work of authorship is protected from use by other parties without the
consent of the owner of the copyright.
Patents protect inventors. They give property rights to an inventor. This ensures that
other parties don't use, sell, claim or remake the invention without the owner’s consent.
A survey performed by the Australian branch of the World Intellectual Property
Organization (WIPO) shows that trademarks are very significant tools in product and service
promotion. Ruth Mackay a Registrar of Trade Marks at the IP Australia Office says that
trademarks inculcate a sense of pride and attachment between businesses ad their clients
("Australia's Favorite Trademarks," 2009). This is a very important fact for the success of any
business because it leads to product popularity. Ruth encourages business owners and
companies to have trademarks. She argues that most of the successful companies sell because
of popularity of their trademark, a fact that has made them competitive even with minimal
innovations of new products. Trademarks registration is important to the country as it
contributes to revenue.

PROFESSIONAL PRACTICE AND COMMUNICATION 3
Among the very successful trademarks in Australia is ABC (Australian Broadcasting
Corporation). ABC was ranked the best in Australia by the board of WIPO not because of
innovations going on in the company but the command it has gained amongst the population.
According to WIPO, ABC is a very clever trademark that has maintained its clients despite the
few updates. The point is on the “few update”. This shows that success of a company is
dependent on the population command it has due to its trademark.
Another remarkable trademark in Australia is R.M.Williams. This is a clothing company
that has gained popularity in Australia. The company has grown very fast due to trademark
promotions and advertisements.

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References
Australia's Favorite Trademarks. (2009). The World Intellectual Property Organization
(WIPO), 27(2), 216-226.
Godart, B. (2010). IP crime: the new face of organized crime: From IP theft to IP crime.
Journal of Intellectual Property Law & Practice, 5(5), 378-385.
The importance of Trademarks and a review of empirical studies. (2015). European Journal
of Sustainable Development, 4(3).
Madison, M. (2017). IP Things as Boundary Objects: The Case of the Copyright Work.
Laws, 6(3), 13.