How intellectual property can be your best business asset

December 3, 2015 - Tags: Intellectual property

This guest blog post is provided by the Canadian Intellectual Property Office (CIPO) which is responsible for the administration and processing of the greater part of intellectual property in Canada.

Learn to use what you already own

Your intellectual property (IP) could be your best business asset. You may not realize that you own a lot of valuable IP — brand name, logo, product design, product invention, manufacturing process, secret formula or ingredients, website content, promotional material, and research reports, to name a few.

Once you know what IP assets you have, you can start figuring out how to best protect and commercialize them. Often, a business' IP strategy includes securing the business' IP rights. By protecting those rights, you can prevent others from using your IP or you can sell or lease that IP to others.

Other people's IP can benefit you too

While protecting your IP is important, so is benefitting from other people's creations. Most IP records are available to the public for free. You can use this information to learn more about inventions, brand names, products and services, and product designs, and do a better job of competing in the marketplace.

Defining intellectual property: watch IP videos

Patents, trademarks, copyrights, and industrial designs are forms of IP rights used in business. Check out our short YouTube videos to learn what are patents, trademarks and industrial designs. https://www.youtube.com/user/IndustryCanadaGC/playlists

More valuable information about the basics of IP

Visit the Business section of the CIPO website for valuable information and tools to get you started: http://www.cipo.ic.gc.ca/learnaboutip

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