The company’s value is largely formed from its intangible assets
(Intangible Assets or Intellectual Capital, IC). Its three elements are:

1. Human Capital
2. Structural Capital
3. Relational Capital

When a company uses these intangible production factors, the result is creative, intangible capital (Intellectual Property, IP). These include inventions, artistic productions, creative implementations, documents, corporate culture, management practices, and company processes, etc.

The IP developed by the company is valuable and its protection should be considered. Formal IP registration protections, such as patents, utility models, trademarks, and design protection, are common company IPR rights. Similarly, trade names and domain names are part of a functioning company’s IPR portfolio. The most important non-registrable IPR right is copyright and its related rights.

IP protection can also be implemented without expensive and demanding processes through alternative protection methods. Speed-to-market, complexity, and bundling are common methods instead of formal protection.

The company’s intangible assets (IC), creative, intangible capital (IP), and IPR protections must be managed effectively. This requires understanding and expertise, as well as good tools and methods. As a management tool, the IP strategy (or IP action plan) is linked to the company’s strategy and business plan, supporting their implementation. The IP strategy defines what and how the company operates in the development, identification, protection, and utilization of intangible capital and IP.