Intellectual property (IP) management is a key element in improving the competitiveness of any company. Unfortunately, small and medium sized enterprises (SMEs) often lack the time, resources, or knowledge to address IP matters. This guide aims at providing answers to some of the main IP issues often faced by SMEs. It has been developed on the basis of the answers provided by the European IP Helpdesk to some of the Frequently Asked Questions (FAQs) submitted by users through the European IP Helpdesk website and Helpline. Moreover, it refers to several reference documents, which are listed at the end of each section for further information. Each section of this guide is dedicated to one specific IP right, covering essential aspects around its regulation in Europe as well as some additional questions which, based on the experience of the European IP Helpdesk, are of interest to European SMEs. This guide is making no claim to be exhaustive and is not an official document of the European Commission. It is provided as a service of the European IP Helpdesk. This is an updated version of the IP Guide originally developed and first published in October 2019.