Intellectual Property

Abstract

Intellectual property is a form of intangible property right involving the ownership and exercise of legal monopolies or quasi-monopolies for the commercial application and exploitation of ideas and inventions. There are four main species of intellectual property right — patents, industrial designs, copyright and trade marks. Confidential information/trade secrets, whilst generally not considered to fall within the definition of intellectual property rights, are often regarded as a fifth species commonly termed ‘know-how’.