QHA_February_Mag_Web

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