Intellectual Property or IP (is. Hugverk) involves a creation of the mind, an idea which has been put out in the open in a tangible form. IP is an asset which can, if used and protected wisely, have an enormous impact on the growth and success of a company. It is thus of great importance to spot possible IP in business and to protect and market goods and/or services protected by IP in a sensible manner, enabling customers to identify, not only the said company but also quality or specific charasteristics such as excellent services, reasonable price etc.
IP rights are often considered to be the most valuable assets of companies and perhaps their primary business tools.
Protection of IP = Intellectual Property Rights – IPR
In order to become an asset, IP has to be publicly visible and to be protected in one way or another. By posessing IPR an exclusive right is provided to use it or to forbid the use of others. This exclusive right is a proprietary right which may be utilized like a house or a car. It depends whether mere use of an IP is sufficient to create rights or if it is necessary to obtain registration. Finally, it must be borne in mind that many different rights may be contained in one and the same product.
It is wise to verify, before spending a fortune on use, marketing or even registration procedure, if another is already using or has obtained protection for the same or similar rights. This may e.g. be verified by using our search tools.