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Intellectual property ("IP") is an expansive concept. It's an original idea, a recognizable name, an artistic work or a secret formula, otherwise known as a patent, trademark, copyright or trade secret, respectively. IP is pervasive and surrounds our daily lives, from the trade secret embedded in the special formula in Coke (KO), to the Nike (NKE) swoosh trademark, to the copyright protecting the latest STRFKR record, to the humanization of antibodies patents (known as the Queen, et. al. patents) awarded to PDL BioPharma (PDLI). Even this article is IP: it is my original work, and I have granted its publisher an exclusive license to its contents, in exchange for monetary consideration.

Both intangible and...

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