The term “intellectual property” refers to intangible assets - the four main forms of IP are: copyright, trade marks, registered designs and patents. An overview of these forms of IP is set out below.

While each form of IP has its own purpose, benefits and restrictions, it is possible for more than one form of IP to apply to one idea. For example a new car may have:

• patent protection (for a motor that makes it drive more quickly);

• a registered design (for a new shape);

• copyright (in the design drawings); and

• a trade mark (for the name of the car).

A clear IP strategy is therefore essential for maximising your return on any new idea you bring to market. For help with an IP strategy, book a free call with us using the link above.

The other key part of the puzzle is to check that nobody else is already using the same or similar idea or name - otherwise all your efforts (and revenue) may end up being spent on litigation rather than developing your awesome ideas.

Therefore, if nothing else, make sure you do your due diligence before launching your plans. For options,. and to see whether funding may be available to help, book a free call with us.