IP - Intellectual Property

Honda F1 engine

In relation to F1, IP stands for "Intellectual Property." This refers to the legal rights that protect original works of authorship, such as trademarks, patents, and copyrights. In the context of F1, intellectual property rights are used to protect various aspects of the sport, such as the names of teams and drivers, the logos and designs of cars and other equipment, and the rights to broadcast and distribute footage of races and other events.

F1 teams and the sport's governing body, the FIA, have a strong interest in protecting their intellectual property rights, as they are a significant source of revenue through merchandise sales and licensing agreements. They also use IP rights to prevent unauthorized use of their names, logos, and other branding elements.

In F1, IP rights play a vital role in ensuring that the sport's owners and participants are able to control and monetise the use of their intellectual property, which help to sustain the sport and allow teams and drivers to compete at the highest level.