WHAT IS IP?

In the context of the entertainment industry, IP stands for “intellectual property,” which refers to creative works or inventions that are the product of human ingenuity and are protected under various forms of intellectual property law.  Examples of IP in the entertainment industry include:

1. Copyrights: Copyright protects original works of authorship, such as books, music, films, and other creative works. This includes the right to reproduce, distribute, and display the work, as well as to create derivative works based on the original.
2. Trademarks: A trademark is a symbol, word, or phrase that is used to identify and distinguish goods and services from those of other companies. Examples of trademarks in the entertainment industry include logos, brand names, and character names.
3. Patents: A patent is a form of intellectual property that grants an inventor the exclusive right to make, use, and sell an invention for a set period of time. In the entertainment industry, patents may be used to protect new technologies or inventions related to filmmaking, special effects, or other aspects of production.
4. Trade secrets: A trade secret is a confidential piece of information that gives a company a competitive advantage. In the entertainment industry, trade secrets may include production techniques, marketing strategies, or confidential information about upcoming projects.

IP is a valuable asset for companies in the entertainment industry, as it can be used to protect and monetize their creative works and innovations. Companies may use IP licensing or franchising to generate revenue from their IP, or may take legal action to prevent others from using or exploiting their IP without permission.

The general consensus in the industry seems to be that the success of Marvel’s adaptation of their comic book catalogue into film and television and the success this has been for the now parent company, Disney, is what sparked the IP gold rush of the past fifteen years.  The past decade in the film industry has seen a bit of an IP land grab as the various studios compete with one another to lock up IP for prospective film/ television adaptations.  Along with this IP, the buyer ostensibly gets the social proof that this IP won in the marketplace (albeit in a different formats) a built-in fanbase, and other ancillary content that could be monetized in conjunction with a release of new content.