Develop writing where answer the following questions about intellectual property:

1. Define intellectual property. 2. What are the main legal forms of intellectual property? 3. Describe under what circumstances patents are less likely to be effective. 4. Make comparison between the different intellectual property valuation methods. What are the main advantages and disadvantages of each valuation method? 5. Explain reasons why potential acquirers are willing to pay significant valuation premiums to acquire intellectual property.