Intellectual Property

Intellectual Property – Intellectual property refers to the ownership of “intangibles” such as:  brand names, trade secrets, business ideas, company knowledge, formulas, recipes, software, designs, music, literature, symbols, phrases and other “assets” of a company that cannot be otherwise defined. Intellectual property is considered highly valuable to companies, even though a monetary value could be difficult to formulate.  A value can be attributed and placed on a company’s accounting balance sheet.  Many companies will legally protect these possessions by requiring employee non-disclosure contracts, filing for patents, and applying for copyrights on these properties.