Intellectual Property (IP): Meaning and Definition

Intellectual property (IP) is a category of intangible assets created by human intellect — inventions, literary and artistic works, designs, brand names, logos, software code, and trade secrets. IP is protected through legal mechanisms such as copyright, trademark, patent, and trade-secret law, granting creators exclusive rights to use and license their work. Robust IP protection underpins commercial value: it lets creators monetize their output, prevents free-riding by competitors and counterfeiters, and gives a clear legal basis for online enforcement actions.