World Intellectual Property Day – How to take your ideas to market and protect your Intellectual Property

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Each year on 26 April World Intellectual Property Day is celebrated. This is the day on which the World Intellectual Property Organization (WIPO) Convention came into force in 1970.

This year’s theme is “IP & SMEs: Taking your ideas to market”.

The day encourages business all around the world to learn about the role that intellectual property (IP) rights play in encouraging innovation and creativity.

That idea is often an IP asset that identifies, innovates, drives, and grows products and services that we all purchase. It is important to protect that IP asset.

In a post-COVID world economic recovery is at the forefront of all countries. 

World Intellectual Property Day 2021 shines a light on the critical role of SMEs in this economic recovery and how they can use IP rights to build stronger, more competitive, and resilient businesses.

The millions of small and medium-sized enterprises (SMEs) that are the backbone of economies all around the world. They deliver the goods and services needed every day; they are the incubators of breakthrough innovations and inspiring creations and they create jobs with some becoming the world leading businesses.

Statistically SMEs make up around 90 percent of the world’s businesses, employ around 50 percent of the global workforce and generate up to 40 percent of national income in many emerging economies, more.

IP allows you to turn an idea into a business opportunity, generate value, create employment, and enrich the choice of products available to consumers.

The WIPO and national and regional IP offices around the world play in creating favourable conditions for SMEs to drive innovation and creativity, power economic recovery and create employment.

Whether you are a multinational business or an individual, WIPO provides a fast, efficient, and cost-effective route for protecting inventions, trade marks, or designs across borders.

This is done through the following:

The International Patent System

Allows you to seek patent protection in multiple countries by filing one international application. The PCT system:

  • postpones the major costs associated with international patent protection;
  • provides a strong basis for patenting decisions;
  • is used by the world’s major corporations, research institutions and universities.

The International Trade mark System

Allows you to register your trade marks in multiple countries by filing one international application. The Madrid System:

  • saves you time and money;
  • includes members representing over 80% of world trade;
  • enables you to manage and renew your marks through one centralized system.

The International System of Geographical Indications

The Lisbon system provides a means of obtaining protection for appellations (names or titles) of origin in several countries through a single registration procedure in one language, with one set of fees in one currency.

Trusted Digital Evidence

WIPO PROOF is a fast, effective and affordable way to safeguard your valuable digital assets at any stage of their development on the route from concept to commercialization.

Protecting state emblems (Article 6ter)

Article 6ter of the Paris Convention enables governments to protect their flags and other state emblems; and intergovernmental organizations to protect their names, abbreviations and emblems.

WIPO also has international Alternative Dispute Resolution services which enable you to resolve IP disputes outside the courts, in a single neutral forum, saving significant time and money.

WIPO has cost-effective services for settling IP and technology disputes outside the courts through:

  • Mediation — where an impartial mediator helps two or more parties in dispute reach a mutually acceptable agreement between themselves.
  • Arbitration — where the parties agree to submit their dispute to an arbitrator, who then makes a final, binding decision (award).
  • Expert determination — where the parties agree to submit a specific issue (such as a technical question, or the valuation of an IP asset, or royalty rates) to one or more experts who make a determination.

How can we help with your ideas?

Our intellectual property team has extensive experience assisting business both large and small to protect their intellectual property not just in Australia, but internationally.

Contact our team today to discuss your ideas, intellectual property or trade marking needs.

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