Patent Case Study

In 1972, Frank Bannigan, Managing Director of Kambrook, developed the electrical power-board.

The product was hugely successful and was the basis for Kambrook's growth to become a major producer of electrical appliances.

However, the power-board was not patented and Kambrook ended up sharing the market with many other manufacturers.

According to Mr Bannigan,

"I've probably lost millions of dollars in royalties alone. Whenever I go into a department store and see the wide range of power-boards on offer, it always comes back to haunt me."

Today Kambrook has a number of patents and pending applications for improvements in a range of consumer goods.

This case study has been compiled by IP Australia

IP Management

The term Intellectual Property (IP) reflects the idea that its subject matter is the product of the mind or the intellect. These could be in the form of Patents, Trademarks, Geographical Indications, Industrial Designs, Layout-Designs (Topographies) of Integrated Circuits, Plant Variety Protection and Copyright.

Intellectual Property Management involves:

• IP Development
  
• IP Protection
• IP Exchange
• Market Watch

Legally protected intellectual assets, including intellectual property (IP) are essential for business success. In order to achieve their growth plans, businesses should have strong IP portfolio.

Companies build up their portfolio by applying for more patents. Companies with a strong portfolio are generally in a better position to negotiate.

IP Management tools enable company managers to:

• To reduce redundant R&D activity
• To identify patent infringes more rapidly
• To share technologies more efficiently and effectively
• To market IP to buyers
• To identify technology spin-off opportunities
• To determine economics of IP enforcement
• To evaluate the commercial prospects for early stage R&D
• To streamline IP assets management

In short, IP Management reduces risk, cost and process lifetime. It discovers new sources of revenue.