IP ensures you are recognised as the creator of such things as an invention; literary and artistic works; designs and software. To protect these types of IP there are:
- registrable rights - IP Rights (IPRs) such as patents,
trademarks and design rights; and
- unregistered rights such as copyright.
Registered IPRs can be lost if the creation is disclosed before the appropriate steps are taken to protect them. It is important to know that once IPRs are secured the IP can be used, sold, licensed or shared. Therefore IP can be used to:
- lever alternative funding through its sale, licensing
revenues, or specific funding streams that aim to develop commercial
applications of research.
- collaborate with industrial partners who want to develop the
- promote your research to a wider community.
The ownership of IP is covered in the University IP Policy. Where the University owns the IP, there is a reward scheme for inventors when such IP is subsequently commercialised and there is an income stream to the University.