Intellectual Property, also known as IP, is any intangible asset consisting of knowledge and ideas. Like any form of physical property, IP is owned, and it can be bought and sold. It can also be rented out through a process of licensing that can result in significant commercial and financial benefits for individuals, research groups and the organisations employing them. MTU and the research it generates is obliged to meet the requirements of the National IP Protocol (Ireland's framework for research commercialisation) as well as the MTU IP Policy. This talk summarised the key requirements of these policies as well as the importance of keeping a good lab notebook.