The way that you create ideas, products and services can take many different forms, and the way to protect these creative efforts can also vary. The forms of protection as well as the options you have to commercialise the end result, varies significantly, depending on what you want to achieve and where you want to achieve it. These creative efforts, known collectively as ‘intellectual property’ (IP), can be owned, enforced, bought, sold and ‘hired out’ for fees, just like other types of property.
The Government has introduced a new guide on IP basics. It provides information on the different types of IP (copyright, patents, trade marks, trade secrets and design rights), how you can protect it and how you should value your IP. It also includes an online IP Health Check tool that allows you to identify your IP assets.
In addition, this guide lists really useful free resources that are available to businesses and students looking for more information around IP.
If you would like more information on our Law Hub for SME's, follow this link.
Unlike the products they protect, IP assets cannot be seen or touched. So, it can be difficult for businesses to appreciate their true value. Like other forms of property, you can buy, sell and license IP. IP Rights can enable their owner to take action under civil law to try and stop others from replicating, using, importing or selling their creation.