Findings from an IP Australia (2021) study highlight that SMEs venturing into patents, trade marks, and design rights tend to experience heightened turnover growth compared to non-filers. For startups, embracing at least one IP right in their debut year doubles the chances of growth in compared to their non-filing counterparts.
Yet, even with these eye-opening figures, many companies grapple with harnessing the true power of Intellectual Property (IP).
Curious to know how some Australian organisations cracked the code and skyrocketed their value using their IP?
Here are 5 gripping examples:
Securing Funding:
Consider Cochlear, a leader in implantable hearing devices. During its initial phases, Cochlear utilised its strong patent portfolio to entice investors and strengthen its funding base, showcasing exclusivity and gaining a competitive edge over potential rivals.
Protection in Competitive Markets:
Look at 2XU, the Aussie fitness clothing brand. They invested heavily in ground breaking fabric technology, obtaining patents for their unique fabric blends and compression tech. This strategic move helped them fortify their position, becoming a standout in a cutthroat market.
Strategic Partnerships and Alliances:
Check out CSIRO teaming up with BlueScope Steel to create ‘ZINCALUME® steel.’ This partnership merged IP and industry knowledge, resulting in a game-changing coating technology used widely in construction. It’s a prime example of how shared IP can drive innovation and market expansion.
Monetisation through Licensing:
Ever heard of Bundaberg Rum? They’ve struck licensing deals that rake in extra income by allowing other companies to use their brand on merchandise. Think apparel, glassware, and collectibles—sold through retail outlets and promotions, boosting the brand’s visibility and popularity.
Driving Innovation and R&D:
IP protection not only safeguards inventions but also fuels continuous innovation. Companies like Atlassian heavily invest in cutting-edge technologies, securing patents to safeguard their inventions and foster a culture of innovation.
Eager to explore how Intellectual Property (IP) can elevate your assets? Delve further into the potential of IP at XVII Degrees to unlock new opportunities.
