Glossary U - W
U
- Untapped market
- Market demand that has not been met by an existing product or brand. An untapped market can also include using an existing product in a new way.
- Utility (patents)
- Your invention must work or have a useful function otherwise it will fail the utility test.
V
- Valuation of the intellectual property assets
- The process of arriving at a dollar value of the intangible assets owned by a business, and their estimated future benefit(s).
W
- World Intellectual Property Organization (WIPO)
- An international organization dedicated to promoting the use and protection of works of the human spirit. These works – intellectual property – are expanding the bounds of science and technology and enriching the world of the arts. Through its work, WIPO plays an important role in enhancing the quality and enjoyment of life, as well as creating real wealth for nations.
