Intellectual Property (IP)
Intellectual Property or 'IP' is a broad term that is used to describe the results of creative and innovative endeavours. It is described as 'intellectual' because it is the result of the application of the mind.
It is described as 'property' because, just like other property, it can be owned, sold and transferred, leased or given away.
Types of intellectual property include:
- patents (for new or improved products and services)
- trade marks (for logos and brands)
- registered designs (for the shape or appearance of a product)
- plant breeder's rights (for new plant varieties),
- copyright (including software, databases, and other copyright works), and
- circuit layout design rights.
Confidential Information is sometimes also called intellectual property, although it does not have all of the features of the items described above. Confidential information can be referred to as trade secrets,or know how, and can include items such as a client list, manufacturing specifications, business and marketing plans.
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