IP Can Help Businesses Make Their Mark

This article was originally published in The Scotsman and can be viewed at www.scotsman.com/news/opinion/meena-murrin-intellectual-property-protection-an-essential-1-4190793 .

In the first episode of the latest series of BBC's Dragons' Den, only one pitch specifically mentioned intellectual property (IP) protection. That pitch attracted investment from three of the five Dragons and serves as a reminder of how crucial IP is for businesses looking to secure investment. Having an IP portfolio provides a straightforward signal to potential investors that a company is more likely to have a sustainable competitive advantage that will allow it to succeed in the marketplace.

Simply put, IP relates to the ownership and protection of ideas and typically includes trade marks, patents, designs and copyright. Businesses often say they want to "patent their logo" or "copyright their company name". However, the terms trade mark, patent and copyright are not interchangeable and