how to determine if our creation is protectable as Intellectual Property

The best way to determine if what you have created is patentable, assuming that it comprises patentable subject matter in general, that is, a machine, system, method of manufacturing, whatever, is to have a patentability/novelty search done to see what other patents, similar to your invention, have already been issued - you can then compare such patents with your particular technology - you will need a patent professional - attorney/agent - to help you understand this part of the process.