Also known as: IP

Intellectual Property

ConceptualLegal

Definition

Intellectual Property: Intellectual property (IP) refers to creations of the mind that are legally protected, including patents, trademarks, copyrights, and trade secrets. For startups, IP can be a significant asset and source of competitive advantage, and proper IP assignment is crucial.

Example Usage

“Our patent on the core algorithm is a key IP asset that provides competitive moat.”

Common Misconceptions

All ideas can be patented. Only novel, non-obvious inventions qualify.

IP protection is automatic. Most IP requires registration and active management.

Software can't be protected. Code is protected by copyright; some methods by patent.

Related Terms

IP Assignment

An IP assignment agreement transfers ownership of intellectual property created by employees or contractors to the company. Without proper IP assignme...

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