Intellectual Property (IP) is the core asset of the Media & Entertainment (M&E) industry. It fuels what we know creatively as “art” and commercially as “product”. According to the World Intellectual Property Organization (WIPO), IP refers to “creations of the mind” and is legally protected by rights granted to creators and owners.

Branches of IP Rights

WIPO classifies IP rights into two branches, both of which are relevant to M&E:

FORMS OF EXPRESSION

The forms of expression IP takes in M&E may be broadly categorized into what I’ll call three Creative or Commercial Segments. Within each of these segments, there are more specific Product Categories or Art Forms all of which can be protected by various types and combinations of IP rights:

Most M&E conglomerates operate across multiple segments and within multiple categories.

RIGHTS OWNERSHIP & MANAGEMENT

Rights ownership and management are critical throughout the M&E value chain, because securing IP rights enables a company to create and monetize various forms of expression from films to television shows to toys and games, apparel, and even theme park rides.

An M&E company may own the rights to a piece of intellectual property from its inception if they employ the creator and the terms of employment specify the company as the legal owner. This is also known as “work made for hire”. Alternatively, rights may also be acquired through assignment (where the holder transfers ownership to another party usually by sale) or through licensing (where the holder retains ownership but authorizes use by another party for agreed upon terms).

Being divisible, the economic rights provided by copyright can be assigned or licensed for specific purposes, as exemplified above. The specific purposes could be the forms of expression in which the IP may be utilized, the channels through which it may be monetized, the territories in which it may be monetized, among other ways to define scope.

To maximize the potential for monetization, it is in the interest of M&E companies to hold or obtain the broadest rights possible with as much exclusivity as possible across all segments.