Introduction to Intellectual Property and Various Property Laws in SingaporeFirst of all, the definition of intellectual property refers to the creation of the mind, such as literary and artistic works, inventions, designs, names, symbols, logos and even images used in industries. Some examples of intellectual property are that entrepreneurs are given exclusive rights to use their brand or even their identity, logo, which were originally established by them. Even for creative artists such as singers Artists are granted copyrights to their musical, drawing and artistic works for their creation. This would allow artists to protect their product from being used by other people without claiming credit from the original owner, while commercially they are able to maximize their value through franchising, licensing or transfer of ownership. their intellectual property. There are eight types of intellectual property. They are Patent, Trademark, Registered Design, Protection of Plant Varieties, Copyright, Geographical Indication, Trade Secret and Layout-design of an integrated circuit. Intellectual Property refers to the creation of the human mind for which exclusive rights are recognized. Innovators, artists and entrepreneurs are granted certain exclusive rights to a variety of intangible assets for a specific term. For a company, intellectual property is an intangible asset. It gives financial institutions and business partners the confidence to collaborate or invest in your organization. Entrepreneurs can also maximize the value of their intellectual property through transactions, franchising or licensing. There are eight types of intellectual property. They are: Patent, Trad... middle of paper... All in all, protecting an intellectual property is important for the success of the company because it protects more than just the concept, even the idea, it protects the originality of the company assets which can be linked to the company's core services and overall long-term sustainability. To be honest, when you have a great idea for a service or even a product, there will always be people who want to copy and duplicate the idea and earn money through your idea. Depending on the circumstances, trademarks, copyrights or even patents may be used. This would affect intellectual property in several areas. This would prevent competitors or anyone else from using your ideas for their own profit without your permission. So always remember the importance of protecting your intellectual property, it's your idea, not theirs.