Intellectual Property

PROFESSIONAL PRACTICE AND COMMUNICATION
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INTERLLECTUAL PROPERTY
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PROFESSIONAL PRACTICE AND COMMUNICATION
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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.