Intellectual property has potential value

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Intellectual Property has potential value and things of value that are owned by a person or company are assets. Intellectual Property is intangible assets, meaning not physical. Additionally, intellectual property can be critical in helping an entrepreneur improve their innovation potential and increase their competitive advantage in some cases. An entrepreneur can increase a business' value if they protect their intellectual property and prevent competition from accessing related information or ideas. When intellectual property is protected (via patents, copyrights, trademarks, etc.) it also becomes a way for a business to legally protect itself against competition. Businesses infringe intellectual property rights of others without their knowledge.

How likely this type of action will damage the reputation of a business?

Reference no: EM132176999

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