IP is a foundation for business. Typically, IP begins as a new idea or discovery that is confidential information. The confidential information is usually written down and copyrighted and the IP is created. Then, tests are done and perhaps a patentable invention is made resulting in more intellectual property rights (“IPR”).

These elements of IP individually or collectively can constitute a basis for building a business that may develop additional valuable IPR as Trade Marks, Business name and reputation. Through its operations the business will create further confidential information and the cycle of innovation continues

Therefore, it is important to assess:

• The IP elements in the project (whether there is for example confidential information, copyright, a patentable invention and so on);
• Who owns the proprietary rights in the project;
• if the rights can be transferred to the Research Commercialization Company
• whether there has been any disclosures;
• How the rights can be protected;
• Whether additional valuable IP can be created;
• Whether there could be infringement of third party rights;
• The potential cost of IP protection and management.