The old maxim that possession is nine-tenths of the law has no meaning when applied to intellectual property. Unlike personal property or real property, intellectual property has no physical form.

Intellectual property rights are purely a creation of the law. While every business owns and uses various forms of intellectual property, many businesses are not aware that those assets can be easily misappropriated, relinquished, damaged or devalued if not properly managed.

It is the savvy business owner who recognizes the significance of the business's intellectual property - the patents, trademarks, copyrights and trade secrets - and understands what steps are necessary to ensure that those rights provide value for the company.