ENTR 20000 Chapter 12: The importance of intellectual Property
17 Jan 2019
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Document Summary
All businesses have knowledge, information and ideas that are critical to their success. Intellectual property-any product of human intellect that is intangible but has value in the marketplace. Patent, trademark and internet domain mane can provide a business with a competitive advantage in the marketplace, and the loss of these can be costly to a business as the loss of physical property or equipment. Not using intellectual property as part of their overall plan of success. Not taking sufficient steps to protect it. Intellectual property is an important part of our nation"s economy and its competitive advantage in the world marketplace. Two rules for deciding if intellectual property protection should be pursued for a particular intellectual asset. A firm should determine if the intellectual property in question is directly related to its competitive advantage. Whether an item has value in the marketplace.
