Book excerpt: This book provides a practical understanding of intellectual property basics relevant in an academic environment. It describes the process of performing a comprehensive prior art search, determining business value, filing for a patent, licensing to companies, and using follow-up patents to create a valuable portfolio. The text also covers starting a new business and recent changes in patent application procedures. A special chapter addresses issues in copyright law relevant to academics, such as determining what is copyrightable in reporting an industry-sponsored project.