About Intellectual Property
Intellectual property is a creation of the mind that can be used in business. It is a category of property that includes intangible creations of the human intellect.
Types of IP
There are many types of intellectual property, each protecting different aspects of a creation.
One Product, Many IP Rights
Trademark
Copyright
Protects magazines, promotional materials, artwork
Domain name
Protects the website of the manufacturer
Protects brand of manufacturer
Patent
Protects functions of the plane
Industrial design
Protects the shape of the plane
IP Rights & the Law
These creations of the mind are protected by the law. Each IP right is governed by its own law.
To obtain protection for most IPs in Malaysia, an application for registration must be lodged at the Intellectual Property Corporation of Malaysia (MyIPO).
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Protection of IP is territorial ie. protection is only applicable in the country(s) where it is being applied for.
Imagine a world without IP protection...
You spent half your life inventing the new airplane, and the very next day, your competitors have reverse engineered your invention and are able to manufacture it at half the price, leaving you, the inventor, stuck in a rut.
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If this were the case, would you even bother re-inventing the airplane...?
IP =
Exclusivity through Uniqueness
IP is important because it gives you.....
Exclusive Rights
A competitive edge
Success &
Return on Investment
Promotes progress, spurs innovation & drives businesses forward
3 Ways IP Helps your Business
Decision making & Crafting of business strategies
As a business owner, you can use IP:-
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As a selling proposition for your IP protected products
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As an intelligence tool
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To attract key employees
Gives you business & competitive advantage
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Keeps competition at bay
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Gives you the upper hand when battling against "copy cats"
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Show of strength and dominance in a marketplace & industry
IP is your business' asset
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IP is an asset which must be used to increase its value
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IP can be a secondary source of income when it is being licensed or sold.
