One of the most common mistakes freelancers make is undervaluing their ownership over the work they create for clients. When and how you grant your client ownership over your Intellectual Property can have a huge impact on your career and your bank account.

What is Intellectual Property?

Intellectual Property rights reside with their owner for certain periods of time. Intellectual Property (IP) is intangible assets that are “creations of the mind,” such as artistic work, music, designs, symbols and inventions. Recognise that unless you give them away, you are the sole owner of the creations of your own mind.

This is true even if the client pays you for your work! Money changing hands is not the same thing as Intellectual Property rights changing hands. If you never have a contract with a client, IP rights are yours.