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LEGAL MATTERS with Curt Schatz<br />
5 USEFUL TIPS TO PROTECT<br />
YOUR INTELLECTUAL PROPERTY<br />
<strong>QHA</strong> REVIEW | 24<br />
Whether you are in a hospitality sector or another<br />
industry, intellectual property (IP) rights should be<br />
treated as very valuable assets of your business.<br />
For many businesses, protecting and managing IP<br />
is important for growth and viability, and may often<br />
become very valuable to buyers in any sale process.<br />
A properly implemented IP strategy can allow your<br />
business to:<br />
• Differentiate your products or services;<br />
• Develop and promote your brand image;<br />
• Create value through marketing campaigns;<br />
and<br />
• License or sell the IP for financial gain.<br />
Taking steps to protect your IP is a worthwhile exercise<br />
and isn’t as difficult as you may think. Below we outline<br />
five useful tips to get you started.<br />
1. IDENTIFY YOUR IP<br />
Identifying your IP involves reviewing all names, marks,<br />
logos and similar assets, and determining what can, or<br />
should, be protected.<br />
When it comes to IP, no business is the same – each<br />
will have a different set of IP assets. This can range<br />
from a unique business plan or innovative process, to<br />
more conventional IP assets such as a business name,<br />
trade marks (i.e. this could be a business logo or<br />
slogan), patents and other registerable assets.<br />
For businesses in the hospitality industry, the most<br />
common IP assets are:<br />
• Trade marks – a sign used to identify and<br />
distinguish your hotel or pub’s products or services<br />
from others. A trade mark is not just a “logo” – it<br />
can be a number, word, phrase, sound, colour,<br />
shape, label or picture.<br />
• Company name – the name you choose to give<br />
your company when it is registered.<br />
• Business name – the name or title under which you<br />
conduct your pub/hotel business. The Office of<br />
Liquor and Gaming Regulation will require evidence<br />
that your business name is registered when making<br />
an Application for Liquor Licence or Gaming<br />
Machine Licence.<br />
• Domain name – the unique name given to your<br />
website on the internet.<br />
After you have identified your IP assets, you will need<br />
to determine what protection is necessary to meet the<br />
needs of your business.<br />
2. IP SEARCHES<br />
Before applying for any IP rights, it is important to<br />
undertake comprehensive searches to find out whether<br />
you can register your IP assets.<br />
We can conduct targeted IP searches which allow<br />
you to:<br />
• Check for IP that is already registered;<br />
• Reduce the likelihood of infringing existing IP rights;<br />
• Assess whether your IP assets can be registered;<br />
and<br />
• Track the IP position of your competitors.