The term "Multimedia" is used to describe a broad range of computer-based products and applications that involve the integration of various forms of content, such as text, images, audio, video and graphics, with software that allows the user to retrieve, view and manipulate the content on an interactive basis. The commercialization of multimedia products should be done with careful attention to the relevant intellectual property rights. This paper focuses on the intellectual property issues that must be addressed at the three main phases of commercialization of mu1 timedia applications. 1. The acquisition of the rights necessary to create multimedia products. 2. The licensing of third parties to create and distribute the multimedia product. 3. Proprietary protection of the multimedia product.