We've created a FREE guide for you that addresses the basics of Intellectual Property and why its such an important step in creating a product or brand. In our free guides, we cover patent applications, design and trademark registration, how to apply for an Australian patent and an International patent and more. Click below to download!
HOW MUCH DOES IT COST?
Costs vary considerably depending on your specific needs but an initial Australian application will generally cost in the order of:
Patent Application | $2000 to $6000
Trademark Application and Registration | $1200
Design Application and Registration | $1100
It should be noted these are application charges only and ongoing charges also apply such as for examination, registration, and renewal. These additional charges are incurred at different times depending on your IP strategy and will be discussed prior to filing.
HOW LONG DOES IT TAKE?
It usually takes less than a week to prepare and file a patent application, design application, or trademark application.
If there are no substantive objections, it is possible to process a patent application through to acceptance within 6 to 12 months although there are benefits in delaying the acceptance and patent registration process to defer costs and allow for amendment.
WHEN CAN I DISCLOSE MY IDEA?
You are free to disclose your idea as soon as an application has been filed. There are some saving provisions that still allow you to file a valid application even if you have publicly disclosed your idea. As part of the filing preparation process and patent application, you should identify any prior public disclosure or use.
IS IT WORTH IT?
Intellectual Property rights help protect your business assets and market share from competitors.
A competitor will generally respond positively to a letter of demand in case of infringement. This represents a low-cost option of rights enforcement. IP rights can also provide passive protection to ward off competitors - the mere existence of the rights can alter competitor behaviour to avoid infringement. These are both extremely low-cost options for maintaining your market share.
To assess whether IP rights are worth it, you should conduct a regular IP audit to determine what elements of the business are IP protected or need protection and what the associated revenue is relative to the cost is of securing and maintaining protection.
IP assets like patents, registered designs, and trademarks also add value to the bottom line of a business. An expert valuation of your IP assets can be obtained if required.
WHAT ABOUT OTHER COUNTRIES?
Once an initial patent application has been filed in Australia, a priority date is established, and corresponding patent applications can then be filed at a later date claiming priority from your Australian patent application.
International treaties exist that allow for centralised international trademark and patent applications or direct foreign filings. Foreign design applications can only be filed on a specific country/jurisdiction basis.
The deadline for filing foreign/international applications for designs and trademarks is 6 months from your initial AU filing.
The deadline for filing foreign/international applications for a patent application is 12 months from your initial AU filing.
Your international foreign filing strategy will be discussed prior to filing your Australian application(s) and again in advance of the above deadlines.
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