Condensed e.g. copyright’s length first, and reduced credit (8)

I haven't cracked this one yet — but the brilliant team at Fifteensquared have:

IP(abbrev. for “intellectual property”, a type of which/e.g. is “copyright”) placed after ( … first ) ELL(a former measure of length) plus ( and ) last letter deleted from ( reduced ) “tick”(from the term “on tick”/”on credit”). Defn: …/concise, in, say, speech.