It may seem that discussion of Intellectual Property, a form of
intangible asset, does not belong in the context of construction
agreements. Contrary to that perception, intellectual property
issues are especially relevant wherever designs, methodologies and
analytical data support the goods and services being delivered.
Construction agreements directly involve these factors.
The term "Intellectual Property" broadly encompasses
discrete categories such as copyright, patent, trade-mark and
industrial design, as well as general categories such as trade
secrets, proprietary methodologies and confidential information.
Commercial value is derived from Intellectual Property by
controlling its use and being able to monetize its outcomes. In
other words, where creativity, knowledge or experience can be
captured and applied to produce valuable results, the discussion
necessarily involves Intellectual Property.
