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Because a good trade mark can be what sets a business apart from its competition, making it easy for customers to find and remember.
Many business owners do not register IP because they’re frightened of incurring expensive legal bills, or don’t know where else to turn, and as a result many hide an ever present foreboding anxiety because they’re worried someone will “steal” their idea before they actually protect it.
ICANN, the body that oversees the domain name system around the world, announced some time ago an ambitious expansion of its generic Top Level Domains (gTLDs) system. However, the initial application fee for a new gTLD is US$185,000 and there are numerous stringent requirements to be met. So, what is a top level domain and what are the rules?
Brands such as Coca Cola are worth hundreds of millions of dollars and rely on secrecy to protect their secret formulae. Rumour has it that only four people know the formula for Coca Cola. It is also alleged that only four people know the secret to the finger licking good taste of Kentucky Fried Chicken. If companies like Coca Cola and Kentucky Fried Chicken can rely on secrecy, is that enough?
Most people have a vague understanding of the various types of intellectual property rights, but few know exactly which rights relate to them and even fewer know how much this will cost. This new series takes readers through the ins and outs of intellectual property rights protection specifically for knowledge-economy businesses.
So, you've selected a great brand and have started to build consumer awareness and loyalty in it. And, of course, you've done the right thing to protect your rights in the brand by registering it with IP Australia. Your work is finished. Right?