Also known as procedural knowledge or intellectual property, it’s all the ideas, creations, inventions, knowledge, technology, processes, and secrets that help a business stand-out and differentiate from the competition.

The know-how is protected by intellectual property rights through patents, copyrights, industrial designs, industrial secrets, etc.

Some benefits of protecting an idea or “know-how” could be having exclusive use of the creation, having a licensed monopoly, ownership claim, among others.