Understanding Intellectual Property

Intellectual property (IP) is the property of your mind or proprietary knowledge and can be an invention, a trade mark, a design or the practical application of your idea. IP can be a very valuable business asset and it is important that you understand it and know how to protect it.

To understand IP you need to know:

what it is
why you should use it
how you can use it
who owns it, and
how you can commercialise it.

Having a reasonable knowledge of IP helps you to understand how you can incorporate IP into your business planning and strategy, and enable you to establish a relationship between IP and your chosen profession.

Last Updated: 31/10/2011

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