IP for Fashion & Textile Crowdfunders
Understanding IP for your Fashion Business can be a daunting undertaking when considering the various platforms available such as crowdfunding. But it doesn’t have to be, the folks at Phillips Ormonde Fitzpatrick are her to help you out! This week, Anita Brown takes us through IP for Fashion & Textile Crowdfunders, and 5 key things to do before you launch your campaign.
Five Things To Do Before You Launch:
We’ve all heard the crowdfunding success stories from Pozible, Kickstarter and a plethora of other platforms. But with reward comes risk. Budding business owners must take steps to protect their IP before pushing the button on a crowdfunding campaign. Failure to do so may result in a loss of IP rights, or worse, litigation.
For those in the textile and fashion industry who might be considering raising funds via a crowdfunding campaign, here are five things to do before you launch:
- Determine what type of IP is associated with your project -Your project may involve copyright, trade mark, design, patents or confidential information.
- Undertake your due diligence. Check to ensure your project doesn’t infringe a third party’s IP rights. For example, are you using a trade mark that is the same as or similar to someone else’s trade mark? Does your fabric design infringe another designer’s copyright?
- Don’t disclose. If your project involves an invention such as a new type of fabric or a design, such a new dress or bag, do not show it to the public before filing a patent or design application (or at least obtaining professional advice about patents and designs). Public disclosure at the wrong time may destroy your ability to obtain patent or design protection.
- Formulate a long-term IP strategy. Consider the type of IP protection you need, your commercial objectives and the countries in which you plan to sell or make your product
- Protect your trade mark – If you have chosen a new trade mark, file a trade mark application early. Failure to do so may result in someone else filing a trade mark application for the same name.
These five steps apply not only to those seeking investment through crowdfunding, but to any entrepreneur or business owner seeking to launch a new product or business.
Want to know more?
Phillips Ormonde Fitzpatrick offers a comprehensive range of services to assist you in identifying, protecting, managing and enforcing your intellectual property (IP). They are one of a small number of Australian businesses whose core focus is IP, and who can provide the full range of legal services associated with IP from conception to enforcement. The team adopts a client-focused approach, tailored to meet your individual objectives. They work closely with a number of clients in textiles and fashion, and advise on the protection of IP throughout the supply chain.
If you require further information, or wish you would like arrange a free consultation to discuss what type of protection you may require, you can contact Anita Brown at Phillips Ormonde Fitzpatrick, www.pof.com.au (firstname.lastname@example.org).