The Different Types of IP Advice

Management consultant

Management consultants can provide valuable strategic advice based on their understanding of the business environment in which your company is operating.

Management consultants can help facilitate the strategic planning process from analysis through to planning and implementation.

Management consultants can aid business development by helping you review the opportunities to expand your business in the light of market conditions, financial constraints, management relations issues, and external factors such as legislation and government development incentives.

Management consultants can also help you build organisational competence and enhance the skills of your people. This includes providing valuable advice on the most appropriate management structure to achieve your objectives.

Marketing consultant

Marketing consultants can help establish market recognition for your company name, products and service as ‘marketing’ entities. This is done using methods such as market analysis, demographic research, and market niche strategies.

Marketing consultants can also give you valuable strategic advice about developing on-going market driven performance measures.

Market researcher

Market research advice, often undertaken in conjunction with a marketing consultant, can help to identify a viable market for your product/service and clarify customer demographics, their needs and desires. It is vital that your investment in your products/services is also seen as valuable in the eyes of your customers.

Branding consultant

Branding consultants can add value to your business by helping to create a name/trade mark for either your company/corporate entity, or products/services. A name must be marketable and able to be protected in order to maximise the value and power that is associated with that name.

Branding consultants help you create and implement a full corporate, product, services brand and image strategy in order to position you in your market as distinctive, unique and independent.

Graphic designer/Identity designer

Like branding consultants, graphic designers and identity design consultants create valuable IP for your business by creating an image for your company which can be trade marked.

Patent and trade mark attorney

Patent and trade mark attorneys can help you create and protect valuable income-earning IP by providing a depth of national and international knowledge on how to register your specific forms of IP.

You may need to seek the advice of a patent attorney at an early stage to ensure that your innovation can be patented and that you take the necessary steps to keep the innovation secure.

You may need to take the advice of a trade mark attorney at an early stage, and before you have chosen your trade mark, in order to determine whether or not it can be registered.

Plant breeder
qualified person

To ensure technical rigour in granting plant breeder’s rights, innovators need to engage the services of an accredited Qualified Person (QP). The QP, in collaboration with IP Australia, accepts responsibility for all aspects of the comparative trial, including the choice of comparative varieties, experimental design, data collection, statistical analysis and preparing a description of the variety.

There are more than 200 QPs in Australia and New Zealand, each of whom is accredited to consult on a range of plant species in which they have expertise.

Advertising agents and advertising media strategists

Advertising agents and media strategists help to actively promote your company image, either independently or through advertising your products/services. They do this through research and planning and developing campaign strategies to position your company and product for maximum effect. To do this they may employ a mix of communication media such as:

• Print - newspapers and magazines;
• Television and radio;
• Outdoor advertising;
• Telemarketing;
• Event sponsorships; and
• The internet.

Franchising and export consultants

Franchising consultants can help you create new streams of income from your IP by licencing it to third parties.

Export consultants can expand your IP’s earning power, as well as that of your products and services, into new geographic and cultural areas.

Information Technology (IT) consultants

IT consultants can help your company plan and build information structures to support your business by refining and speeding up the flow of information to help organise and leverage your IP assets.

Financial consultants, financial planners, advisers

Financial consultants/planners and investment advisers can give you advice on funding requirements and proposed sources and structure of finance.

IP protection can involve significant expense. Once you have established the costs involved, you should consult a financial adviser to carry out a cost/benefit analysis.

Industry specific advice

Because your research and development activity creates much new IP, your choice of adviser is critical. Sources of advice will depend upon your industry sector.

Accountants/tax accountants

Accountants are essential to any business, particularly since the introduction of the GST and quarterly reporting. They provide services and advice on a range of financial issues including helping you develop a financial plan and business plan, financial reporting, tax planning, investment advice, valuation services, cost/benefit analyses, export and import finance and potential expansion strategies, for your business.

An accountant/tax accountant can advise on whether or not IP can be formally identified as an asset, and what value can be ascribed to it on your balance sheet.

IP is an asset that attracts capital gains tax and stamp duty, depending on the circumstances.

An accountant/tax accountant should also be consulted if you are considering selling, buying or licencing IP rights. For example, there are tax implications associated with royalties, which are normally viewed as income for tax purposes.

Commercial lawyers

A lawyer provides your business with a legal/ownership framework and structure that protects your business and its operations. A lawyer will also help establish a viable structure for potential joint venture companies.

Product Engineers

Product Engineers will assist with the development of working prototypes. It is good business practice to have such a prototype to demonstrate your invention/ innovation to potential investors. This type of demonstration may also open up opportunities for joint venture partnerships.

When employing the services of a product engineer it is important to have appropriate confidentiality agreements in place.