ABSTRACT

Any product of the human intellect that has a value and can be exchanged in the marketplace.

This may be in the form of a tangible or intangible object. Tangible assets include objects that can be perceived with the senses such as buildings, musical instruments, and equipment. Intangible assets have no material substance. This includes intellectual property, such as copyrights, patents, and trademarks including names, brands, and logos. For recording companies an artist’s intellectual property is a high-value asset, as it can be licensed for use in numerous platforms. Furthermore, effective IP management enables music companies to use their assets to improve their competitiveness and strategic advantages. IP management is more than protecting an enterprise’s copyright; it involves a label’s ability to commercialize its IP through effective licensing and joint ventures, while adding value to the enterprise. International IP and the development is protected by several treaties, such as the ones established by the World Intellectual Property Organization (WIPO), and the Trade-Related Aspects of Intellectual Property Rights (TRIPS) established through the World Trade Organization (WTO).