The brain, not surprisingly, represents the intellectual property in your contract.
In many projects, intellectual property is either shared or created by the parties. Sometimes the development and/or licensing of intellectual property is the main objective of the contract – as in software agreements, for example. So it’s important to be clear about what intellectual property is involved, who is entitled to use it, and what restrictions or limitations relate to that use.
Intellectual property can take many forms – trademarks, documents, films, designs, computer programs, photographs and inventions, to name but a few. Different types of intellectual property can be protected by different intellectual property rights (often referred to as “IPR”s).
Common forms of IPR include:
- copyright (used for computer software, photographs and documents)
- registered trademarks (used to protect a mark or name under which you do business – “Devant” is a registered trademark)
- registered design rights (used for designs of physical products – from aerosol sprays to chairs!)
- patents (used for products or components that were created using an “inventive step”, taking them beyond the current state of the art).
Want to know more? Contact Devant for contract assistance!