What is intellectual property?

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When an entrepreneur innovates, they can protect their creations through intellectual property (IP) rights, which grant exclusive rights of use and commercialization. IP is divided into two branches: literary and artistic property (copyright and related rights), which protects original works, and industrial property (patents, designs, trademarks, etc.), which protects inventions and creations. However, these protections have limitations: lengthy and costly procedures, and validity is limited by time and geographical scope. Alongside these legal tools, entrepreneurs can resort to informal protections such as secrecy, early market access, technological advantage, or reputation. These strategies are inexpensive and quick to implement, but riskier. In practice, entrepreneurs can combine formal and informal protections to adapt their strategy to their needs and market demands.

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