Intellectual Property
Creations of the mind such as artistic and literary works, symbols, designs, names and images used in commerce.
Intellectual property, or IP, is creative work that can be treated as an asset or physical property. There are four main areas of intellectual property rights: copyrights, trademarks, design rights and patents. Copyright, for instance, applies to work that is recorded in some way, while a trademark can be a name, word, slogan or another unique device that identifies a product or organisation.
Why is IP important?
Intellectual property protection can help to ensure such works of yours as the names of your products or brands, your inventions, the design or look of your products and the things you write, make and produce are not stolen or copied. While some types of protection are given automatically, others require an application process.Practical Application Example
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A company logo, such as that used by major multinational brands like Coca-Cola and Apple, is an obvious example of intellectual property. ”
