There are many reasons why designs can be valuable and we've outlined a few below.
Designs can be licensed so that the owner receives license fees from another business who may want to produce products incorporating the design.
A design is an asset and can be sold or used in the same way as other assets.
Advertising that your product or service is covered by a design registration can be an effective marketing tool. You can even advertise you have a design pending before its granted.
A design registration enables the owner to sue others who are infringing the design registration and prevent them from continuing to use, make or sell products with the design.
Design registration can be used as part of a MAD (Mutually Assured Destruction) strategy as a deterrent to stop others suing the owner, i.e. if you sue me, I sue you.
Marking your products with a design registration number and advertising that you have registered the design of the product can deter your competitors from trying to copy your product.
Investors looking at a business want to know that the business has protected its Intellectual property.
Government or other organisations offering funding for research and development may make the funding contingent on obtaining a design registration for the end product.
Having design registration conveys that you are innovative and improves your status in the minds of your customers and competitors.
Design registrations are assets that add value to your business and can help improve the sale price of your business should you want to exit.