Here’s Why You Should Consult an IP Lawyer
Did you know that Thoma Edison did not invent the light bulb? It was actually invented by Heinrich Goebel, who tried to sell it to Edison but was turned down. After the death of Goebel, Edison bought the patent from Goebel’s window at a low price and passed it off as his own. Regardless, the inventor is still popularly credited for an ingenious invention that wasn’t his in the first place.
In today’s digital world, your inventions and innovations are more vulnerable to be ripped off than ever before. Securing a patent, trade mark or copyright is the only way to deter others from manufacturing, selling and profiting from your inventions. That’s why it’s crucial to hire experts to protect your rights to your invention. Here are some ways lawyers specialising in intellectual property law in Australia can help you.
Expertise in Relevant Field
An IP lawyer is not only familiar with the law but also has expertise in relevant industries. They may have technical degrees as well as experience in technology industries. This allows you to rely on someone who actually understands your products and is familiar with the associated technology.
Understanding the Complex Process
Getting a patent, trade mark or copyright for your product is a complex and time-consuming process. It usually takes about four years to obtain a patent and 6 months to obtain a trade mark. In the meantime, you need to meet key requirements for registration.
Time is of the essence. You can’t sit back and hope no one plagiarizes your idea. Since missing deadlines will further delay the process, it’s better to let an expert take over.
Doing It Right
Obtaining a trade mark is a complicated process, not as straightforward as it would seem. One wrong move can cost you the legal rights to your invention. A knowledgeable lawyer has the skills to effectively carry out the process.
Drafting Important Documentation
Even if you are familiar with the process of filing a trade mark, drafting various forms and commercialisation documents is a speciality in its own right. From licensing agreements to confidentiality clauses, there are several documents that require the expertise of an IP lawyer.
Assisting with Valuation
In addition to understanding the process and drafting legal documents, IP attorneys can also help you with the valuation of intellectual property. They can take various costs, locations, requirements and other factors of your innovation to determine an estimate.
Intellectual property valuation is also necessary for other purposes such as mergers, acquisitions, licensing, calculating IP insurance, investment in research & development, etc.
Researching, Managing & Writing Documents
Organisation and proper management are key to speed up the process. An IP lawyer can help you stay on top of researching and writing different documents.
In case someone copies your idea or generates unauthorized profit from your innovation, an IP lawyer can represent your rights in court. It is important to preserve evidence of infringement to help you win cases of infringement.
Most inventions aren’t an overnight stroke of genius. Perfecting a product or idea can often take years and years of hard work and careful planning. IP lawyers can guide you through the complicated process of obtaining a trade mark and offer useful legal advice.