This Precedent is a suggested definition for the term ‘intellectual property rights’, a term which is commonly used in agreements. The term ‘intellectual property rights’ can encompass a large number of rights so including a definition in agreements that involve intellectual property, whether as the main object or as an ancillary consideration, provides clarity regarding the rights covered. This definition is often used in conjunction with the defined terms ‘know-how’ and ‘confidential information’. It may also be necessary to define individual intellectual property rights separately either instead of or in addition to providing a general definition of ‘intellectual property rights’.