What is intellectual property?
Intellectual property is the legal right to ideas, inventions and creations in the industrial, scientific, literary and artistic fields. It also covers symbols, names, images, designs and models used in business. Without realizing it, your business may be creating IP assets that should be protected.
Benefits to business
Establishing intellectual property protection for your goods, services or brand names is important for a variety of reasons. Intellectual property can:
- Establish a right to, and ownership of, your intellectual creations so you can profit from them
- Prevent competitors from copying or closely imitating your products or services
- Protect the distinct identity, image, and reputation of your business
- Build customer trust and loyalty by establishing a unique brand name or image
As a business owner, you should consider formally identifying your IP assets as part of your strategic planning. Learn more about what intellectual property is and its importance to business by reviewing the following:
Forms of intellectual property
Learn about the types of IP protection that may apply to your intellectual activity.