Intellectual property (IP) refers to intangible creations of the mind that are protected by law. It includes creations such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce.

IP can be divided into several categories, including:

1. Patents: A patent provides the inventor with the exclusive right to prevent others from making, using, or selling an invention for a limited period of time.

2. Copyrights: A copyright provides the creator of an original work of authorship with the exclusive right to use and distribute the work for a limited period of time.

3. Trademarks: A trademark provides the owner with the exclusive right to use a distinctive word, symbol, or design to identify and distinguish their goods or services from those of others.

4. Trade secrets: A trade secret is confidential information that provides a competitive advantage to a business, such as customer lists, formulas, or manufacturing processes.

IP laws are designed to protect the rights of creators and innovators and encourage the development of new ideas and technologies. By protecting the exclusive rights of creators and innovators, IP laws provide an incentive for them to invest time and resources into creating and developing new products and ideas, which can drive innovation and economic growth. Check out our customer recourses to learn more about the protection of intellectual property.