Intellectual property (IP) is widely talked about but
it's value not well understood.
Most entrepreneurs are aware that intellectual property may be
very important to a business, but are not and cannot be aware of
legal details, recent case law, or differences in the law between
jurisdictions. Most entrepreneurs have far too much on their plate
to become experts in this specialised legal field, but they do need
to know enough to make sense of information and advice provided to
them and to make strategic decisions on allocation of
resources.
For many start up businesses intellectual property (or
"intellectual assets") will be the key to the business.
It may be a new product or service that business provides, or an
idea about the delivery of products or services, or the branding
and marketing for a proposed business. Whatever it is will usually
be an idea or an approach which the entrepreneur thinks will set
the business apart from others in the field.
