The term Intellectual Property (IP) describes the outputs of creative endeavour in literary, artistic, industrial and scientific fields which can be protected under legislation. In the university context Intellectual Property is generated whenever staff and/or students produce papers and teaching materials or carry out research. Intellectual Property is a tangible asset that can be traded in the same way as any other commodity.
Types of Intellectual Property Right (IPR)
Intellectual Property Rights (IPR) describe the rights which protect your ideas and give legal recognition to the ownership of intellectual property. Some rights are automatic, but others require steps to be taken in order to be afforded IP protection.
There are five main types of Intellectual Property Right:
- confidential information/know-how
- design rights
- trade marks.