What is Intellectual Property?
No it isn't smart property! Intellectual Property (IP) is a form of
intangible property. Just as you receive ownership rights in tangible/physical property, like your house or car, IP can afford you ownership rights for your brand, designs, artistic works and inventions (i.e. intangible property).
Types of Intellectual Property
The common forms of IP include:
- Copyright - artistic & literary works
- Trademarks - brand names, logos, slogans
- Patents - inventions (functional design)
- Industrial Designs - appearance or look of products (aesthetic design)
Why Intellectual Property is important
Securing your Intellectual Property (IP) is important for a variety of reasons. By registering your IP you obtain the benefits of:
- exclusive rights across Canada to a brand name, design or invention
- proof of ownership of your brand name, design or invention
- deterring copycats
- greater enforcement options against infringers
From a monetary perspective, registering your IP allows you to:
- increase the market value of your business (i.e. business asset)
- sell or license your IP to earn money
- secure funding/financing
Ready to secure your IP? or Need an IP assessment? Contact Sander Law today!
The above content is for informational purposes only and is not legal or professional advice.