Intellectual Property
Intellectual property (IP) refers to creations of the mind such as inventions, literacy and artistic works, designs and symbols, names and images used in work. It includes all types of identifiable intangibles that are protected by legal rights. Eg Copy rights, Patents and Trade marks.
The economic value of IP is based upon the following concepts:
- Monopoly rights provided to the owner
- Provides a discernible economic advantage to the holder
- Is often not considered to be an asset by financial institutions
It is important to protect your IP by seeing an solicitor who specialises in IP protection.