Innovation law, Advertising and Marketing
Innovation, Commercialisation and Commercial Corporate e-commerce
The commercialisation of an idea, product or service refers to development and process stages of releasing it to market. There are a number of steps that are usually undertaken prior to getting an idea to market as part of the innovation process.
There are a number of resources such as networking opportunities, business mentors and case managers with skills to assist your business. You need to identify all of the stakeholders, your competitors and the potential customers.
Innovative businesses take their intellectual property to market after much forethought and preparation. Innovation is tailored to the needs of each business. Each business has different needs and adopts a different strategy.
Innovation and Commercialisation
IP rights are finally being recognised more and more as a valuable asset by businesses. Not only can they give a competitive edge to an owner but can also be exploited in a variety of ways – some examples are provided below.
The first step in any commercialisation process is to identify the full scope and nature of all Intellectual Property (IP) held or used by the company.
These may include:
- registered or registrable rights such as patents, trade marks, registered designs;
- unregistered rights such as copyright and trade secrets;
- consider an audit as part of this process;
- the audit will flesh out your checklist or action flags.
Once the first steps have been performed the next steps, are:
- identify what IP is being commercialised so that each party can appropriately assign a value to the IP;
- document clearly what Intellectual Property is being covered;
- assess what else is out there in the market place (ie who are your competitors and how do they differ from you, your product/service, if at all).
Some factors and strategies to consider before licensing:
- what’s the goal of the owner, and are the trade marks, designs, patents or plant breeder rights registered?
- what’s the ongoing requirement of the owner to use its IP?
- how much involvement does the owner wish to have?
- what’s the nature and market of the technology?
- at what stage of the development is the technology at?
- what is the financial position of the owner?
- other factors, such as speed of entry into the market place, potential for growth should also be considered.
There are many factors to consider when considering to licence your product, so plan well and you could reap the benefits of a successfully planned licensing model. Brandsworth Licensing can assist you with this process.
Commercial Corporate e-Commerce, intellectual property and information technology agreements
A bundle of rights. Modern legal agreements should contain mutual clauses to cover off all risk factors, and consider all stakeholders involved in the business.
- place all of your terms and conditions up on the website for transparency, and this allows customers/clients to read your warranties before purchase or a business relationship develops;
- you need to have a Corporate/SME Audit of all of your agreements and software licences regularly (usually 2 to 3 years) to check for compliance issues and this assists and manages your risk factors and allows for rectification;
- a Contract Register is a good management tool;
- these are some of the steps which should ensure that you are covered-off for whatever comes at you in the future;
- any other compliance requirements/steps will depend on the type and nature of product or service you are trading.
Advertising and Marketing
A social media page, post or tweet is NOW considered an advertisement at law, not simply another tool in a company’s customer relations toolbox.
Legal Practitioners need to advise clients about the legal risks of social media and using social media for advertising;
Clients must comply with the Australian Consumer law and the Spam Act 2003 (Cth) and not post misleading or deceptive comments on social media channels;
Comments on social media have been considered advertising and must comply with advertising codes, rules and regulations regarding sexist, racist or obscene content;
Listed companies must monitor social media content to ensure they comply with ASX Listing Rules and the Corporations Act 2001 (Cth).
Additionally there will be legislation, rules and regulations which will apply to certain industry standards, e.g., banking and finance products and services, insurance products and services, and credit provider services.
Sweeny Legal IP has had extensive experience as a Corporate in-house legal counsel and has signed of many advertisements which advertise across all mediums. This is an important service in todays online business environment.
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