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What is intellectual property?

Intellectual property refers to the legal rights to ideas, inventions and creations in the industrial, scientific, literary and artistic fields. It also covers symbols, names, images, designs and models used in business. You may not realize it, but your business may be creating IP assets that should be protected.

Benefits to Business

Establishing intellectual property protection for your goods, services or brand names is important to business for a variety of reasons. Intellectual property can:

• Establish a right to and ownership of an intellectual creation. This enables the IP owners to profit from their creative efforts.
• Prevent competitors from copying or closely imitating a business' product or service.
• Protect a business' distinct identity, image and ultimately its reputation.
• Build customer trust and loyalty by establishing a unique brand name or image.

As a business person, you should consider formally identifying your IP assets as part of your strategic planning. Learn more about what intellectual property is and its importance to business by reviewing the following:

• Stand out from your competitors - Make intellectual property your best business ally
  
  http://www.cipo.ic.gc.ca/eic/site/cipointernet-internetopic.nsf/eng/wr00820.html
  This site provides a concise and clear introduction to intellectual property, the Canadian Intellectual Property Office and the types of IP. It also covers strategies for protecting and exploiting IP.
• Intellectual Property Toolkit
  
  http://www.canadabusiness.ca/eng/summary/1431/
  Applies to: All of Canada
  Find information, tutorials and links that answer most questions about intellectual property.
• Canadian Intellectual Property Office
  
  http://www.canadabusiness.ca/eng/summary/1430/
  Applies to: All of Canada
  If you want to protect your invention or creative work, this organization will provide you with what you need to protect your intellectual property rights.

Forms of Intellectual Property

Check these sub-topics to find out the types of intellectual property protection that may apply to your intellectual activity:

Patents cover inventions or improvements to an existing invention.

Trade-marks are words, symbols or designs used to distinguish a product or service.

Copyrights provide protection for artistic, dramatic, musical and literary creations.

Industrial designs are the visual features, such as shape, configuration and pattern, applied to a finished article.

Integrated circuit topography is the three-dimensional electronic circuit designs used in technology.