Intellectual Property in the Managerial Portfolio

Introduction

Intellectual Property, Its Definition, Its Worth, and Its Protection

Definition of Intellectual Property

A piece of intellectual property is most accurately described as an intangible creation that is the product of the human mind and to which can be assigned certain rights of property. Intellectual property may include, among many other things: (a) a unique new process to preserve foodstuffs for which a patent can be acquired, (b) a writer’s book or article to which a copyright can be assigned, or (c) a distinctive label design (a trademark) that differentiates the products of its owner from those of other producers of similar goods. All of these examples and a number of other possibilities, by providing their owners with a monopoly, ...