Intellectual Property

Definition

A business's legally protectable intangible assets, including patents, copyrights, trade names, domain names, trade secrets, and trademarks or service marks.

See Also

Trademark, service mark, patent, copyright.

Tips

IP can include both registered and unregistered IP. Registered IP includes patents, copyrights, trade names, domain names and trademarks or service marks. Non-registered IP can include a range of trade secrets and other propriety intangible property. Non-registered IP is more difficult to protect, and therefore, stronger agreements are required prior to accepting an offer or LOI and allowing a buyer to perform due diligence on a business.