What is considered to be Intellectual Property?
Intellectual Property is defined as inventions, discoveries, know how, show-how, processes, unique materials, copyrightable works, original data, and other creative or artistic works that have value. Intellectual property includes anything that can be protected by statute or legislation, such as patents, copyrights, trademarks, service marks, trade secrets, mask works, and plant variety protection certificates. It also includes the physical embodiments of intellectual effort and tangible research (e.g., models, prototypes, machines, devices, designs, drawings, apparatus, instrumentation, circuits, semiconductor chips, computer programs and visualizations, biological materials, chemicals, other compositions of matter, plants, and records of research). See also UL Lafayette Intellectual Property Policy.
Why is this important?
It is desirable to encourage the broad utilization of the results of academic research by bringing innovative findings to practical application. The primary purpose of developing intellectual property is to provide the necessary protections and incentives to encourage both the discovery and development of new knowledge and its transfer for the public benefit; a secondary purpose is to enhance the generation of revenue for the University and the creators.
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