A Lesson Learned - Kambrook
In 1972, Frank Bannigan, Managing Director of Kambrook, developed the electrical power-board. The product was hugely successful and was the basis for Kambrook's growth to become a major producer of electrical appliances.
However, the power-board was not patented and Kambrook ended up sharing the market with many other manufacturers.
According to Mr Bannigan,
"I've probably lost millions of dollars in royalties alone. Whenever I go into a department store and see the wide range of power-boards on offer, it always comes back to haunt me."
Today Kambrook has a number of patents and pending applications for improvements in a range of consumer goods.
This case study has been compiled by IP Australia