Intellectual property (IP) is often seen as mystifying, a source of confrontation, and costly. As a result, many companies consider it either a superficial addition to their assets or unworthy of their time and resources. This article seeks to demystify the subject by explaining the fundamentals, range, and variety of IP and demonstrating its critical value to industry. It will show how IP can add value to a company, and help chemical engineers to secure both their own and their employers’ competitive position.
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