What is Intellectual Property

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Intellectual Property consists of Intellectual Assets which can be defined as the intangible property owned by an organisation.  It can include:

  • Brands
  • Employee know-how
  • Trade secrets
  • Patents
  • Trademarks
  • Copyright
  • Data / websites

Intellectual assets have a value to an organisation and thus potentially a value to any competitor.  It is therefore important that organisations identify, document and protect their intellectual assets.   Collectively the intellectual assets of an organisation are referred to as its Intellectual Property.

Benefits of managing Intellectual Property (IP)

Knowing and understanding what Intellectual Property an organisation owns can have the following benefits:

  • Generate income for an organisation through licensing, sales, and/or commercialisation of IP protected products or services
  • Enhance the value of  the organisation to investors and financial institutions and hence help to raise finance
  • Increase the value of the organisation in the event of a sale, merger or buyout
  • Help in developing the business plan

Protecting Intellectual Property

An organisation’s Intellectual Property has a value and therefore should be protected just as physical property is protected.

Possible ways to protect Intellectual property include:

  • Copyright
  • Trademarks
  • Patents
  • Internal policy on Intellectual Property
  • Confidentiality agreements
  • Contracts

For further information on Intellectual Property, check:-