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Next, we're looking at intellectual property, the ownership rights that creators of inventions and ideas need to secure against competitors' infringements.

This might take the form of a patent, a trademark, a design registration, a domain name registration or the copyright to a material.

Protecting the rights to your invention or idea can be done at the UK Intellectual Property Office, the European Patent Office or the World Intellectual Property Office.

With this in place, you may begin licensing your invention or idea - and the royalty payments could be the making of your company.

Next: You've secured your patent and are now ready to roll out your prototype and head towards mass production. It's time to understand economies of scale in our production section.