What Is Intellectual Property (IP)?

Patents protect inventions and novel functional processes for a limited term (20 years for utility patents, 15 for design patents) in exchange for public disclosure. Trademarks protect brand identifiers — names, logos, slogans — that distinguish the source of goods or services, and can last indefinitely with continued use and renewal. Copyrights protect original creative expression — writing, music, software code, art — automatically upon creation, lasting the author's life plus 70 years. Trade secrets protect confidential business information (formulas, processes, customer lists) that provide competitive advantage, with no registration required but requiring active steps to maintain secrecy. IP is often a company's most valuable asset — the foundation of competitive advantage, investor value, and exit multiples. Proper strategy requires deciding what to patent vs. keep secret, when to register trademarks, and how to structure IP assignments from employees and contractors.

Many founders significantly undervalue their IP until it is challenged or stolen. Building an IP strategy early — before competitors copy your product or employees leave with your methods — is far cheaper than litigation. An IP attorney can audit your assets, identify what is protectable, and build a portfolio that creates real barriers to competition.