This article focused on the preparation of Cu, Co (II)‐containing linoleic‐based poly(ester amide) resin and studied their use as new binders for paint formulation. The metal‐containing LPEA was carried out by in situ condensation polymerization reaction between hydroxyethyl linoleic fatty amide diol (HELA), phthalic anhydride (PA), and Cu, Co acetate. The structure of the prepared resins was confirmed by FTIR and 1H NMR spectral studies. Physicochemical, thermal analysis (TGA), surface morphology (SEM), and elemental composition (EDX) were studied by standard methods. The physicomechanical, antimicrobial, and corrosion/chemical resistance performance tests were also conducted to evaluate their coating properties. These studies revealed that (i) the incorporation of Cu, Co (II) has a significant influence on structural and physicochemical aspects. The paint formulation based on Cu, Co (II) containing LPEA showed very good results according to the corrosion resistant test evalution. (iii) Antimicrobial tests of all prepared resins were performed by agar diffusion method against Staphylococcus aureus, Bacillus cereus, Escherichia coli, Klebsiella pneumonia, and pathogenic fungal strain using standard controlled medication, ciprofloxacin/fluconazole for the comparison. (iv) Cu, Co (II) containing LPEA serve as novel binders and promising candidates for use as binders for protective coating material.