Intellectual property, as defined by Alex Poltorak, CEO of General Patent Corporation, “consists of products of the human mind and creativity that are protected by intellectual property law.”
Intellectual property has economic value – sometimes great economic value. Like tangible property, intellectual property, or IP, can be bought, sold, and rented. And it can be lost or destroyed through neglect or carelessness.
In today's knowledge-based economy, IP is often the single most important asset of an enterprise.
Children’s natural instinct to brainstorm and create should be nurtured by parents and teachers alike. Coming up with new product ideas and inventions is a great way to instill a love of science, math, marketing and the entrepreneurial spirit. It also teaches cooperation and instill tremendous conf