The Importance Of Intellectual Property

The Importance Of Intellectual Property

Everyone’s heard of logos and branding, and how important they can be to the success of a business.

Some brands and businesses have a very well established brand or product which has been around for years, whilst other businesses might be in the start-up phase - meaning anything that’s new will form a big part of who they are as a business, or what they offer, and will most likely be a key element of their overall intellectual property.

When it comes to protecting intellectual property, it’s a good idea to engage with a professional and experienced small business lawyer, like TY Lawyers Chatswood, who specialise in commercial matters and have extensive experience as commercial lawyers in Chatswood.

Let’s take a further look at intellectual property and why it’s important in business.

What Is IP?

Intellectual property, or IP, does not just cover logos and branding. Many things can form a part of a business and their IP, including:

  • Creative design relating to branding, like images, logos or symbols
  • Formulas or recipes
  • Inventions
  • Trademarked company, product, slogans, jingles or brand names
  • Trade secrets

IP assets are protected by law by patents, copyright and trademarks, which provides protection for the business and security for customers.

A business has exclusive rights and ownership to their creative innovations and designs.

If you’re a small business looking for assistance with any part of IP, get in touch with our commercial law firm in Chatswood, TY Lawyers.

Why IP Is Important For Consumers & Businesses

IP is important for consumers as the continued use of branding, logos, symbols, slogans and signage means that consumers can instantly know who they are dealing with.

There is a promise when identifying a brand or business that a consumer knows what they are getting based on what the business stands for.

For example, when a person sees a McDonalds restaurant, the branding is instantly recognizable and consumers know when going into a McDonalds what they are going to get – the product range is fast food and there is an expected quality level based on McDonalds and what they have delivered and built up as a reputation over many years in business.

Although McDonalds is a household name, all businesses should strive to create positive branding and awareness within their target market and geographic location. This can all be achieved through IP. When the IP is protected by patents, copyright and trademarks, consumers will get to know a brand or company and will know what to expect when dealing with that company. At a minimum this would be safe, guaranteed products.

Consumers can in turn make educated decisions about products and their safety, reliability and effectiveness.

IP provides a way for businesses to prove authenticity whilst providing protection and a safe environment to foster innovation.

TY Lawyers Chatswood – Commercial Law Firm Chatswood

TY Lawyers are small business and commercial lawyers in Chatswood who can provide your business, big or small with commercial business advice on any IP matter.

If you’re looking for assistance with your business IP, don’t hesitate to reach out to our friendly team at TY Commercial Lawyers Chatswood.

Get in touch today!

Call our office on: (02) 8007 0135 or email us on 

Please wait...