Intellectual property (IP) is any creation of the mind that gives value or uniqueness to a business.

It can be an invention, a design, a brand identity, or even a secret formula.

IP turns ideas into assets that can be legally protected and monetized. To make this clear, here are the main types of intellectual property every SME should know:

Firstly, patents protect inventions and innovations. They cover machines, processes, software, and any technical solution that solves a problem in a new way.

Next, trademarks safeguard your brand identity. This includes business names, logos, slogans, and even distinctive colors or sounds that set you apart.

Following this, copyrights cover creative works. From marketing materials to books, photos, music, or videos, copyrights ensure creators keep control over how their work is used.

Then, industrial designs protect the look and feel of a product. This includes the shape, pattern, or ornamental design that makes your product unique and appealing to customers.

Lastly, trade secrets keep valuable business information confidential. Recipes, strategies, processes, or customer databases can be protected through agreements and internal security.

Understanding what counts as intellectual property allows SMEs to protect their ideas, increase brand value, and compete with confidence.

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