Often, small businesses mistakenly assume that registering their intellectual property (IP) in New Zealand automatically grants them protection in foreign jurisdictions. However, this is not the case when it comes to protecting your intellectual property overseas.
Certain markets pose higher risks and may have more lenient regulations regarding IP protection. If you are considering expanding internationally or collaborating with overseas manufacturers or suppliers, it becomes crucial to gain a deeper understanding of how to safeguard your IP.
All business owners need to:
- Understand there’s no such thing as worldwide IP protection – different countries have different rules.
- Be aware that potential competitors (and counterfeiters) watch the IP registers of different countries to find new opportunities, brands and ideas.
- Realise that worldwide IP protection does not exist as different countries have their own distinct rules and regulations.
- Be mindful that potential competitors and counterfeiters closely monitor the IP registers of various countries to identify fresh opportunities, brands, and ideas.
- Assess the future direction of their business and determine the necessary IP measures to be taken for self-protection in other markets.
- Determine if there are any time limitations, such as renewal dates, associated with the IP protections they have established. For instance, a patent application filed in New Zealand will be made publicly available after 18 months. This implies that time is running out to further safeguard or capitalise on their IP.
Understand the risks involved with exporting — New Zealand Trade and Enterprise
Case study
Bouncing back after a setback
FlexiDRILL®, a company based in Auckland, initially started as a drilling contractor in 1996. However, it swiftly recognised an opportunity to enhance the industry’s technology through its own inventions.
Today, the company specialises in developing drilling tools for a wide range of sectors, including oil, gas, construction, utilities, minerals, and energy.
While acknowledging a setback in its early intellectual property (IP) endeavours that resulted in losing some of the American markets, FlexiDRILL® learned from this experience. It has since integrated IP into its business strategy, innovation processes, and day-to-day operations as a collaborative team effort. This approach not only instils confidence in its IP protection but also fosters inventiveness, leading to the creation of new technological advancements.
Useful resources:
Intellectual Property Office of New Zealand
World Intellectual Property Office
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