Intellectual Property (IP) is the intangible creations of the human intellect that is a collection of ideas and concepts. IP types are copyrights, patents, trademarks, and trade secrets. A copyright applies to a written document; a patent applies to a specific product design; and a trademark to a name, phrase, or symbol.
Reference Definition by WIPO: Intellectual Property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. The IP is protected in law by, for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the IP system aims to foster an environment in which creativity and innovation can flourish.
Related Definitions in the Project: The Project Management
