Abstract
The value of Intellectual property (IP) is often not adequately appreciated in Universities of Technology in South Africa (SA), it is a key consideration in day-to-day business decisions. New research and innovation appear almost every day but are not protected. Therefore, this paper will look into the importance of IP for Universities of Technology, Science Park and researchers on how to protect their product. The paper will further demonstrates how IP can become an economic tool and the challenges faced in the implementation.
Keywords: Intellectual property; innovation; challenges