Intellectual Property Overview
Intellectual property is an important part of creativity and innovation, which is at the heart of startups. It is, therefore, my goal to cover the basics for you, to give you an idea of the lay of the IP land.
Intellectual property (IP) is the creation of one’s mind. An invention, a design, a piece of music, a photograph, a physical action, artwork or even a smell. Your IP is a valuable part of your startup and must be protected. There are many types of IP. I will cover the forms of intellectual property that are most relevant to technology companies.
Core Areas of IP
Intellectual property protection is necessary to foster creativity and innovation in society. If there was no way to protect our inventions or creative works, then anyone would be free to copy them. If anyone was free to copy others’ works it has been argued that inventors, artists and entrepreneurs would stop innovating due to limited financial reward of inventors’ IP. Further, if innovation we’re to slow or stop, it would be detrimental to society.