intellectual property holds significance for small businesses as it can help:

• Generate market advantages and business opportunities
• Enhance profit growth through licensing or selling to others
• Attract investment
• Protect the business
• Preserve a positive reputation
• Deter competitors
• Serve as a selling point for potential business buyers.

IP is NOT:

• Solely for large businesses
• Always costly to protect
• Exclusive to inventors
• Complicated and time-consuming
• Solely about protection.

Tip

The belief that copying up to 10% of someone else’s work without their permission is permissible is a misconception.

In fact, IP is:

• Something that businesses of all sizes should consider
• Often free and easy to protect
• Equally focused on business growth and protection
• Fundamentally about safeguarding the investments made in your business

In its simplest form, IP is all about safeguarding what you’ve put your resources into – your business. By grasping the concept of IP and being aware of how to handle what rightfully belongs to you, you’ll be empowered to make the appropriate decisions for your business.

Case study

Buzzing business

One of New Zealand’s most iconic toys is Buzzy Bee™, a beloved plaything for over 70 years.

Its intellectual property (IP) encompasses trademarks and copyright, which have played a crucial role in establishing the toy’s brand, deterring imitators, and authorising the use of Buzzy Bee’s name and image across various products and services throughout the years.

Thanks to its strong brand presence, the current owners successfully attracted international interest to finance the TV series Buzzy Bee and Friends, currently airing in New Zealand and several Asian countries.

This serves as an excellent example of how prioritising IP within your business can enhance profitability, secure markets, and generate new revenue streams.

The use of Buzzy Bee’s image has been granted approval by the license holder.