If you own or manage a business you should know a thing or two about intellectual property (“IP”). Whether you provide professional services, run a small coffee shop, or are the CEO of a large multi-national corporation, IP issues will inevitably arise. Being attuned to these issues and addressing them up front can prevent future problems and go a long way toward maximizing the value of your business, whatever that may be.
For the those that may not be aware, IP is something that doesn’t exist in physical form and can include an idea, invention, design or other creation of the mind. It can be protected in various ways depending upon the circumstances, including by obtaining a registered copyright, trademark or patent. Because it can’t be held or counted as inventory in the traditional sense, the importance and true value of IP is often overlooked.
Over the next few posts I’ll be covering the basics of intellectual property. The goal will be to help business owners and managers identify IP issues and opportunities. Luckily, a little information in this regard can go a long way.