What is Intellectual Property?

This article also answers the following questions:

  • What is intellectual property?
  • Who are the official government bodies for intellectual property?

What Is Intellectual Property?

Intellectual property (IP) falls under the intellectual assets umbrella and refers to creations of the mind.  These can be categorised into literacy, artistic, industrial and scientific domains, to name a few, and can be in the form of an invention, symbol, name, design, manuscript or software.

Who are the Official Government Bodies responsible for Intellectual Property?

Now that we have covered the basics of IA and IP, it is useful to think of the possible issues that may occur from owning IP without any formal protection.  In this modern, globalised world, it is all too easy for an unscrupulous person to copy an idea and claim it to be their own.  If there is no protection on the idea, nor proof that you own it, then it is impossible to claim possession.  This obviously has huge ramifications on the profitability of a piece of intellectual property, and so IP law enforcement bodies, such as the UK Intellectual Property OfficeEuropean Patent OfficeUnited States Patent and Trademark Office and World Intellectual Property Organisation were established to implement rights which safeguard creators of intellectual goods.