Just about any business owner, whether they know it or not, has created some form of intellectual property (IP) during their company’s life. IP is an extremely key part of a business. Actually, it’s the most significant part. Your IP can make up 40% to 90% of your company’s total value. When it comes to IP protection, patents protect inventions and trademarks protect brand names, while copyrights can protect a wide range of original creative output, including literary, musical, dramatic, and artistic works, among others.