Who owns the intellectual property?
Introduction
You've probably heard of intellectual property (IP) and how it can be important to your business. But what exactly is IP and who owns it?
The truth is that everything you create as a business owner is intellectual property, including your business name and logo, your marketing materials and website content, your pricing structure and contracts. This can include anything from an original recipe for a new food product to the way you organise workplace meetings or handle customer complaints.
The term "intellectual property" refers to any kind of creative work that has been expressed in some tangible form (for example: writing on paper) but not yet been published or made publically available-that is protected by law because it's unique and original enough to warrant protection.
Intellectual property and ownership in a franchise.
In the franchise industry, intellectual property is an important part of your business. The franchisee owns the trademark and trade name, but not necessarily all other aspects of their intellectual property (IP).
The franchisor retains ownership of all IP developed during the course of operating their business model. This includes any original concepts, recipes or designs used in creating their product or service offerings. While you may own your business name and trademarks as a franchisee, if you're using any information from your franchisor's system then they will likely retain ownership over that data as well!
Conclusion
If you're considering a franchise, it's important to know who owns what. You don't want to invest in something that might not be right for you or your business. Make sure you ask the right questions before signing on the dotted line!
