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Business Terms
Intellectual Property (IP)
Definition
Creations of the mind such as inventions, designs, and creative works that can be legally protected.
Overview
IP includes copyrights, trademarks, patents, and trade secrets. Understanding IP ownership is crucial when creating work for clients.
Example
A designer clarifies in their contract that IP transfers to the client only upon full payment.
Best Practices
Address IP ownership clearly in contracts. Specify what transfers and when.
Common Mistakes to Avoid
Not addressing IP in contracts
Unclear ownership terms
Giving away rights without realizing
Frequently Asked Questions
Who owns work I create for clients?
Depends on your contract. Without explicit transfer, creators often retain copyright.