Types of Intellectual Property
Intellectual property (IP) is commonly used to identify rights in relation to property which can be owned by a legal person and which are not physically tangible. Some types must be registered in order to establish ownership whereas for others proprietary rights will be created automatically. Rights can be created, varied and extinguished by statutory rules and also contractually.
In an employment context it is often desirable or necessary to make provision for the creation and use of IP in the course of an individual’s service, so that the business receives and retains exclusive ownership.
Some particularly common types of intellectual property are listed below.
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