1. Intellectual Property and its value
What is Intellectual Property (IP)?
IP refers to the ownership of creations or knowledge resulting from intellectual efforts. IP protects the idea and gives the owner the right to decide how others can apply it.
“For great ideas to flourish, they need to make their way from universities and research centers into the hands of the consumer. Understanding IP issues around knowledge transfer can help get discoveries from the lab to the marketplace.” World Intellectual property Organization (WIPO)
The value of your IP
If you develop an idea or content that is new or original you may want to protect your ownership rights. Consider IP as an asset that may have commercial value.
Watch some of the videos from the World Intellectual Property Day 2023 Video Competition and browse the WIPO Magazine for some great case studies about how IP is used by creators around the world to promote economic development.
Your ideas or content
There are a few different types of IP, with copyright, trademarks and patents the most well-known. Each of these covers a different aspect of your creations, so it is important to know the difference between them all. We will cover these differences more as we go through the module.
IP Australia’s What IP do I need (YouTube, 18s)
