According to the World Intellectual Property Organization (WIPO), Intellectual Property is a creation of the mind that includes amongst other things, inventions, literary and artistic works, designs and symbols, and names and images used in business.

In today’s knowledge‑based economy, it is crucial that you use your intellectual property strategically as you run your business. If you protect them, they can give your business a competitive advantage over other players in the market, and the potential to make you a great deal of money.

How do you protect them?

In Canada, the best way to protect your intellectual property is by submitting applications for a patent, a trademark or an industrial design, or by registration of a copyright with the Canadian Intellectual Property Office (CIPO) ‑ whichever applies to your situation.

Following is a summary of the main forms of intellectual property protection as explained by CIPO:

• Patents
• Trademarks
• Copyright
• Trade Secrets