Scottish Health Innovations Ltd
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What is Intellectual Property? |
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When you become involved in commercialisation, a phrase you will often come across is Intellectual Property or IP. IP relates to protecting an idea and it can seem like a complex field however, SHIL can help you understand and guide you through IP. There are two important phrases you will come across. One is IP assets and the other is IP rights. First of all, here is a basic definition of IP….. Intellectual Property (IP) is the intangible creations of the mind that can be legally protected. (IP for Dummies, 2008) IP is not the new, wonderous medical device that you have developed nor is it the efficient new pharmaceutical you have been developing in fact, in the first example, the IP is actually the invention that embodies your new medical device and in the second example the IP is the process used to manufacture that pharmaceutical. These are the IP assets, the intangible creations, i.e. the invention, the formula or the process. It can be the expression of the artist's talents or a brand name. IP rights are the legal protections that secure each IP asset against the unauthorised use by others. They are the tangible component of IP that protect the intangible component. The protection types that secure IP rights are: |
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