Intellectual Property: The Nuts and Bolts of Every Business

intellectual property nuts and bolts

By Dawn Wattie, Surrey Business Lawyer

Every business is essentially built on some form of intellectual property (IP). Some examples include:

  • Individual know-how
  • A new service or product
  • A new method of doing business
  • The way or means in which a service or product is packaged and marketed
  • The name or brand of a service, product or method
  • A new process, design or computer application or program

All of these things are intellectual property but are not necessarily treated, documented and protected as IP.

It is the intellectual property of an organization that attracts customers and allows a business to enter or expand their market, create market demand, and create or expand a business’ competitive edge.

This is why all businesses could benefit from considering how they are commercializing their intellectual property and ensuring there are strategies in place for managing and protecting the nuts and bolts of their business.

Image Credit: Caleb Roenigk under Creative Commons

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