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Intellectual property includes a Trademark, Copyright, and Patent. It is important for a business as it shields them from rivals so that their idea or invention does not get copied.
Intellectual property, like any other company asset, is part of a mix or resources that a company will use to create products and grow market share. IP is valued (in an accounting sense), sold, created or purchased based on a company’s strategy or business model - just like normal assets.
Some companies are very IP focused (software, pharma) and some not so much. Companies with a lot of licensing activities (think films & toys) are also very IP focused even though you may not immediately think so. IP is a means to differentiate your business (trademarks) or, if you have the financial resources, blocking competitors (patents). Again, this all boils down to how you want to use your company’s resources.
Along with this, there are other benefits that prove that intellectual property protection is important for a company. They are:
-Ability to have competitive advantages over small businesses.
-Enhances company value and goodwill.
-It helps to market your products and services.
-It provides export opportunities.
-You can easily acquire financial support for business.
Hope this helps…
Source: Quora
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