Why IP matters

Legal concept

Intellectual Property is a legal concept, which refers to the creations of the mind and relate to the translation of ideas, research outcome and knowledge into an asset, for which exclusive rights are recognized. Such intangible assets (as opposed to tangible ‘physical’ assets) can be protected and traded to provide value, whether through commercial exploitation and translation, or socio-economic impact for the wider public.


Under intellectual property law, owners can be granted certain exclusive rights to a variety of these intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs.

Common types of intellectual property rights (IPRs) include copyright, trade marks, patent, design rights, and can include trade secrets.