Quick Learning 1 - Intellectual Property
Intellectual property originates with ideas. Ideas you create with your mind.
It does not become Intellectual Property until in a tangible or physical form. While it's still in your head it is just an idea.
Writing it down, creating a prototype with your hands, putting it into a digital form ... all these types of things is enough to turn the idea into Intellectual Property.
Intellectual Property is recognised as 'property' just like any physical property such as a car, book, house, etc.
Intellectual Property can have value, like physical property.
This can be financial worth, as well as the value of being able to do things with it.
Things you can do with it include selling it, selling part of it, leasing or licensing it, or using it to create value.
As it has value, it is attractive to others who have no rights to it.
Most countries provide one or more methods for protecting your Intellectual Property. They provide enforceable rights.
Usually you have to take steps to make a claim to your rights - much like miners use to register their gold claims.
Often you have to take these steps before your Intellectual Property is used, or disclosed to anyone.
Granted or registered rights increase the potential value of your Intellectual Property.
Other parties are more willing to purchase or license your Intellectual Property if they know their investment is protected by enforceable rights.
Granted and Registered Rights make alliances and joint ventures more feasible. Others will invest in these options if they know competitors are excluded. Sometimes it is potential competitors who are forced to come to you for a solution.
Intellectual Property is often at the core of what most businesses produce or do.
Excluding competitors, or limiting their options, is a strategic business tool.
Intellectual property originates with ideas. Ideas you create with your mind.
It does not become Intellectual Property until in a tangible or physical form. While it's still in your head it is just an idea.
Writing it down, creating a prototype with your hands, putting it into a digital form ... all these types of things is enough to turn the idea into Intellectual Property.
Intellectual Property is recognised as 'property' just like any physical property such as a car, book, house, etc.
Intellectual Property can have value, like physical property.
This can be financial worth, as well as the value of being able to do things with it.
Things you can do with it include selling it, selling part of it, leasing or licensing it, or using it to create value.
As it has value, it is attractive to others who have no rights to it.
Most countries provide one or more methods for protecting your Intellectual Property. They provide enforceable rights.
Usually you have to take steps to make a claim to your rights - much like miners use to register their gold claims.
Often you have to take these steps before your Intellectual Property is used, or disclosed to anyone.
Granted or registered rights increase the potential value of your Intellectual Property.
Other parties are more willing to purchase or license your Intellectual Property if they know their investment is protected by enforceable rights.
Granted and Registered Rights make alliances and joint ventures more feasible. Others will invest in these options if they know competitors are excluded. Sometimes it is potential competitors who are forced to come to you for a solution.
Intellectual Property is often at the core of what most businesses produce or do.
Excluding competitors, or limiting their options, is a strategic business tool.
