In the modern mining and engineering sector, IP protection is about far more than simply preventing others from copying a company’s products. No company can exploit all of its ideas in every situation – but someone else could be able to fill the gaps. IP rights can be licensed to generate new revenue where the owner cannot invest. Every company at times needs to generate finance or reassure investors.
IP rights form an asset which can be sold, reported or used to secure finance arrangements. In the last resort, large companies operating in declining sectors in Australia today, have been rescued from collapse by attracting overseas buyers for their intellectual property portfolios. Equally, those companies leading the industry with tools and techniques that mark them out from the rest, will suffer increasingly from others seeking to copy their innovations as competitive pressure increases. IP protection is critical to these companies’ ability to assert and protect their fairly won competitive advantage.
Please don’t hesitate to contact us if you have any questions in the above.