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Intellectual Property (IP) such as copyright, patents and know-how is usually created or generated by R&D projects. In order to fully exploit the scientific and commercial potential, IP must be properly administered.
The registration and protection of IP is part of the Standard Project Agreement between Dairy Australia and research provider being funded. The research provider is required to advise Dairy Australia of the existence of any IP and protect the IP according to the following clauses in the Standard Project Agreement:
Intellectual property is broadly defined as the property of the mind or intellect. In business terms, this means the proprietary knowledge of an organisation. There are seven groups of rights that make up intellectual property: