The first step that is required while starting a business is to have an idea. You need to keep your idea to yourself, or else a third party might be profitable through your idea.

Having an idea is not the only necessary step. For a successful startup, having an execution is crucial.

However, you should not overlook your idea. From NDAs and copyrights to trademarks and patents, we will discuss every detail.

Reason to Protect Your Business Ideas

Your startup idea needs to opt for legal protection because the unique elements help set apart your business.
Trademark protections help to ensure that your business name, logo and other distinguishing features remain exclusive. This exclusivity will help you to gain customers' trust and brand recognition.
Legal protection for your startup idea is about ensuring the success and longevity of your business. It reduces the disputed risk of intellectual property, improves stand in the competitive market, and further helps to build a strong foundation of growth.
By investing in legal protection, you not only protect your brand but contribute to the overall reputation and your startup's sustainability also.

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Ways to Keep Your Business Idea Protected

Copyright

The creative skill and labour of an individual are the foundation of copyright. While copyright does not just protect the information and ideas themselves, it protects the different ways in which they can be transformed. The four common types of copyrights are text, music, picture and video.

The owner of the content is granted economic rights exclusively to utilize that work for various needs. The right to disseminate and reproduce the content is an example of such rights. Along with financial protections, copyright helps people get what is called moral rights.

The three moral rights that are recognized in Australia:

The process to get a Copyright

Copyright registration is not essential in Australia. Copyright in Australia is a necessary protection for every innovative task, from the moment it is accomplished in digital form or paper.

The Copyright Act of 1968 provides complimentary and unrestricted copyright protection and guarantee.

If you want to know how to copyright an idea in Australia, as a presenter of this article, Sunrise Technologies will also assist you in providing copyright protection for your business idea

Patent

What are Patents?

An innovation, whether a process or a product, is regarded as an invention when it provides a proper technical solution to an existing issue or a more generalized method of accomplishment.

A patent grants the right of exclusiveness to use the patented invention. The technical details of the invention need to be displayed before the public in an application for a patent.

In theory, the patent’s owner has the authority exclusively to avoid anyone else making money through the patented information.

It means that no one can use, distribute or sell the patented invention without the patent’s owner who also has the authority to provide permission.

How can you Patent an idea?

According to IP Australia, the following steps need to be followed to protect a patent in Australia.

Research:

Keeping secret of your innovation and remain within the grace period of one year
Understanding what to patent
Deciding the suitability of the provisional patent application
Choosing the application type and holding the annual fees and the costs associated with it.

Ownership

Determining the rightful owner, whether as an employee, the inventor himself or someone having legal rights.

Searching for the Patents that are Existing

Make sure that your invention is real. For that, you must search in the patent database online.

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Collecting the Necessary Documents

Filing of your Applications

Uploading your specifications
Creating an online account and filling out its applications
Optionally requesting a mere or expedited examination or claiming priority
When an innovation is displayed in public, any attempt to keep it a secret will be considered null and void.
Publishing of your application is performed by the patent database of Australia

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Asking for a Review

Within five years of filling, you can request an examination which will be expedited and optional.

Responding to Issues

Addressing any issues questioned during the examination taking place within a year.

Outcomes:

Receiving the outcomes through the inbox of online service
If accepted, the patent will be issued for opposition
If unopposed, the patent is granted for up to 20 years for a standard company and 25 years for a pharmaceutical company.
Renewal of the fees every day is required, and legal actions can be taken for post-publication infringements.

Considered Risks

What is a Trademark?

In a legal context, a trademark helps identify any sign, symbol or expression distinct from one another.

Both an unregistered and a registered trademark are often thought of as part of the IP.

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How to Trademark a Name or an Idea?

Preliminary Search for Trademark

Identifying the Relevant Class

Categorize your trademark based on the goods and service types represented by it.

Creating an account on IP Australia

Visiting the website of IP Australia and set up an account on its online portal.

Payment of Registration Fee of the Trademark

Pay the required registration fees that depend on factors like the filing method and the number of classes.

Application Submission

In the online portal of IP Australia, apply after having completed it.

Process for the Examination

The application for a trademark is reviewed by IP Australia to make sure that it follows all the guidelines and rules, without clashing with any other trademarks.

Resolving all the Official Actions

Resolving any official actions which might come up during the process of examinations.

Initial Period and Publication

After the trademark is granted, it is published in the official journal of Trademarks.

Others have the chance to challenge the registration within its initial period unless they face any issues.

Final Registration

Registration of trademark occurs when all the requirements are satisfied and zero-lodged oppositions Issue of a Registration certificate.

NDA

A Non-disclosure Agreement (NDA) is a legally binding contract. It can be formalized by the establishment of confidential relationships.

After having signed the agreement, you are guaranteed that there is no third party who might access any information that is identifiable and personal.

Companies use NDAs while negotiating with one another.

They make it possible for the parties to exchange confidential information related to goods and services without being afraid that it might go into the wrong hands.

Conclusion

To make your app stand out in the competitive market, making a strategy to monetise a mobile app for your business is an important part of the success of your business.

This article was presented by us, Sunrise Technologies. We are a mobile app development company in Australia that not only helps a business create a tailor-made mobile app but also helps to make the app stand out in the app store. Whether you want to add more features to your app or want to monetise it, we will help you in every step.

Sam K Annavi

About Author

Sam is a chartered professional engineer with over 15 years of extensive experience in the software technology space. Over the years, Sam has held the position of Chief Technology Consultant for tech companies both in Australia and abroad before establishing his own software consulting firm in Sydney, Australia. In his current role, he manages a large team of developers and engineers across Australia and internationally, dedicated to delivering the best in software technology.