Intellectual Property

Definition

Intellectual property refers to creations of the mind, such as inventions, artistic works, designs, symbols, and names that are protected by law.

Analogy

Think of intellectual property like a recipe for a delicious cake. Just as the recipe is unique and valuable, so are ideas and creations that people come up with. Just like you wouldn't want someone else taking credit for your amazing cake recipe, creators want their intellectual property protected.

Related terms

Copyright: Copyright is a type of intellectual property protection that grants exclusive rights to the creator of an original work, such as a book or song.

Patent: A patent is another form of intellectual property protection that grants exclusive rights to inventors for their inventions or discoveries.

Trademark: A trademark is a symbol, word, or phrase used to identify and distinguish goods or services from others in the market. It provides legal protection against unauthorized use by competitors.