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Page 1 of 2 Introduction
"Intellectual Property (IP) is an invention, original design or practical application of an idea - it represents the product of the mind or intellect. In business terms, this also means proprietary knowledge."
Patents, trade marks and designs are the main IP rights. Other rights include copyright, circuit layouts and plant variety rights. In recent times, the protection of geographical indications has also become significant.
The role of a patent or trade mark attorney lies primarily in the registration of IP rights. In many cases, such protection has generated significant revenue for owners whilst conversely a lack of action has resulted in loss of market share.
Protection encourages the research and development of innovative products and it is important to develop an appropriate IP strategy. A competitive edge and the future sale or licensing of IP is dependent on how well it is protected.
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