Intellectual property can include trademarks, copyrights, patents, and trade secrets.
- A trademark or service mark may protect goodwill associated with a source of a product or a service.
- A copyright can provide protection for a creative expression in a tangible form.
- A patent may provide protection for an invention.
- A trade secret can protect proprietary information that is developed by a business that takes reasonable steps to keep that proprietary information confidential.
Development of intellectual property often occurs when a business develops a new product or service. It is also helpful to recognize when a particular technology or innovation may be protected by one or more types of intellectual property. For instance, a particular logo may be used as a trademark and could also be subject to copyright protection. It can often be helpful for a business to take steps to identify when it has developed commercially significant intellectual property so that steps may be taken to protect that intellectual property.