Business Importance of Intellectual Property

Intellectual Property plays a key role in all business endeavors. Large or small. Regardless of industry. Intellectual property assets create business value and sustainable competitive advantages for a company. Importantly, these assets influence consumers’ confidence and buying decisions. Both companies and consumers rely on intellectual property for differentiating among companies, products, services and making choices. Regardless of the job function, everyone is engaged in handling intellectual property assets. This module explores the business perspective of value protection and creation and consumer perspective of gaining greater value as result of intellectual property assets.

Employees will learn about the business value and underlying principles of intellectual property assets.

After completing this module, learners will be able to:

  • Define intellectual property.
  • Explain why intellectual property is important to a business.
  • Describe how intellectual property affects consumers buying decisions.
  • Explain how protecting innovation led to improvements and innovations.
  • List sources of innovation.
  • Explain the value chain of business value and technology.
  • Describe the types of intellectual property assets.
  • Explain the benefits of protecting intellectual property.
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