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BEST PRACTICE: Protecting your intellectual property

The government has recognised the importance of Intellectual Property (IP) for the future of the UK economy. Gordon Brown talked about IP in his pre-budget report in Dec 06: “The future success of our creative and knowledge-based industries depends upon Britain having a robust intellectual property regime”.

IP comprises a part of every business. It is the ideas, knowledge and information that belong to a business and strengthens its position in the marketplace. From developing technology and software to building brands, the investment involved in creating IP makes protecting it worthwhile in order to prevent competitors copying or taking a free ride.

Legal rights in IP are typically protected through patents, registered designs, trademarks and copyright.