Journal 3_Sum 1 2017
property & Intellectual asset Management
Work individually. Spend two to three hours
to work on this journal
Submit the softcopy of your completed
journal through LMS by the deadline date suggested in the turnitin link
NOTE: COPYING ANSWERS FROM OTHER RESOURCES WITHOUT
PROPER REFERENCING WILL BE TREATED AS A PLAGIARISM CASE.
For your visionary business,
What will you name it?
What legal form should you
choose for your new company (sole proprietorship, corporation, etc.)? Explain
your rationale on choosing this legal form.
The name of my business should properly define the
real theme or motive of the business idea. As, my business idea is to help
needy people financially by other users of the app. So, I decided to give it
the name of “Book your blessings”.
I would like to make it a Partnership business as I
need partners like investors to develop and run this app successfully.
What do you do to ensure that your new business does
not infringe anybody else’s IP?
I will do an infringement search on internet to
identify if there is any other app or website providing the same
Then I would take study their IP rights and will
take care that I would not infringe their patent,
Design, copyrights and trademark rights. If in case
I would need an IP attorney I would hire him?
Identify at least one thing in your business
that you can patent. If it is not directly after the launch of the business,
it can be for your future products/services/processes. Explain why it is
important for your business to register for this trademark.
I will get a utility patent as it would patent the
functionality of the app and would make it really difficult for the
competitors to copy the idea.
Other thing that I would like to safeguard is my
logo so I will trademark it.
It is important for my business so that somebody
cannot copy my functionality and sell it without my permission.
Identify at least one thing to which you can
apply trademark protection. Explain why it is important for your business to
register for this trademark.
Ones a brand become famous it’s very important to
maintain and save brand reputation from competitors. So I would trademark my
logo because it’s the symbol by which people identify the app and it would
save the imitation of the product by others. So, would preserve the
uniqueness of the app.
Do you need to seek international IP protection? Explain
For the time being as the budget of my app is not
much so I would like to seek local IP protection then with the growth of the
company I would apply for global IP protection but for the time being I would
trademark my logo and name in Australia and China.
Farmer Brown’s trade mark problems
Tori best tried to register
trademark for her dairy company Farmer
Brown’s dairy company and a flying
cow logo in china as there was an increasing demand for Australian food in
She was amazed to know that it
was already registered by someone with same name and same logo with china
trademark office as it took her months for creating the logo and was selling
ice cream under this company name in china.
Farmer brown was one of the
several companies that suffered from trademark theft in china. According to
tori best the logo and name was not even in public domain at the time of its
She suspected that it was
leaked when her husband send the business plan to an associate for advice. So it’s
suggested that trademark everything before showing it to pubic as they are too
quick to copy and register.
According to china’s trademark
policy who files the trademark rule. So if someone else copy the logo and name
would end up in owning it no matter if a company is doing business in any other
If someone ends up getting our
trademark then he would either stop us from producing or selling things until
we buy trademark from them.
Or if the trademark is not used
for 3 consecutive years then a company can apply to CTMO to revoke it.
If there is any trademark
registered in Australia then company have six months to secure the trademark in
(2018). Farmer Brown’s trade mark problems | IP Australia. online
Available at: https://www.ipaustralia.gov.au/tools-resources/case-studies/farmer-browns-trademark-problems
Accessed 20 Jan. 2018.