Applying for an Intellectual Property right is essential if you want to build a business and establish your presence in a market. Owners of intellectual property, particularly trademarks have a valuable business asset that increases the value of their business and their strength in the market place.
What is Intellectual Property
Intellectual property (IP) can be an invention, trade mark, design, brand or even the application of your idea such as a book. To be IP an idea must be rendered in some material form.
What is not Intellectual Property
Business names, company names and domain names are not types of IP. Owning a business name, company name or domain names does not give you ownership of the name. It does not mean you should not register your business name. It means you need to go further and register your intellecual property.
A trade mark can be a logo, words, phrases, sound, images, even smells or a combination of these elements. The most common trademarks are logos or words.