Surname 2
There are two different classes of IP rights namely; Registered IP rights and Unregistered
IP rights. Registered IP rights include designs, plant breeder’s rights, trademarks and patents,
which meet certain requirements for them to be registered. Unregistered IP rights cover all other
types apart from the ones mentioned ("market for design: insights from interviews with
Australian firms")
Body
The world’s business market is becoming very competitive, and the local
producers/manufacturers should come up with competitive strategies that will enable them to
survive in the market. The best method for enabling Australian businesses is to make use of
Intellectual property right in the following ways;
Maintaining their competitive edge
Research shows that innovative businesses in Australia are most likely to report increased
profitability and IP is a major part of commercializing innovation. For all the businesses to
remain competitive in the world market, the development of, treatment of and access to valuable
information is becoming more important. A good example is a business with best processes and
software for running orders, delivery and stock makes use of these to get a competitive
advantage, which leads to the attraction of many customers and making more money than other
businesses.
The branding and software that the business uses can be protected as Intellectual
Property. Working together can result in the creation of new IP innovations, products,
documents, services, software, processes and other materials. A good example is two businesses,
which may collaborate to improve software and services so that their delivery channels trigger
their stock orderings automatically (" What every business should know")
