This course gives business professionals a practical understanding of how intellectual property works in practice: who owns it, how it moves between parties, and how to work with legal counsel. You will learn the default ownership rules and how work-for-hire, employment, contractor, and joint development agreements change them. You will also learn how licenses are structured, from exclusivity and scope to royalty models, and how to read the key provisions of a licensing agreement. Finally, you will learn when to involve IP counsel and how to prepare, manage costs, and ask questions that lead to actionable advice.