The term Intellectual Property (often known as IP) refers to a set of rights that are legally earned by someone or an organization creating something of their own.
It can be an invention, process, service, goods or artistic or literary, or musical works. By enjoying IP rights no one else is allowed to reproduce or commercially exploit the item without the express permission of the rights holder.
Intellectual property also applies to the name and logo of the company and/or its products.
This is especially important as the public tend to identify with company brands and logos and the specific names of products. If these were copied by rivals this could mean a huge loss of revenue to the IP rights holder.
The best way to protect your IP rights is to consult with specialist intellectual property lawyers because they are skilled even in a very complex area of law.
Image Source: Google
They will be able to provide the right intellectual property advice on the various types of IP rights protection available.
Your chosen lawyer should be able to provide you with specialist intellectual property advice on a range of IP issues including management of your intellectual property, engagement in any negotiations of IP agreements, assistance with the licensing and franchising of the IP, registration of the relevant trademarks and representation when and if your IP rights are infringed.