Intellectual property (IP) refers to the type of property that is legally protected by copyright. Intellectual properties cannot be copied or sold without the owner’s consent. Some of the most common instances of intellectual property include novels, music labels, movies, software, and even businesses.
The intellectual property right offers legal protection to the original creative work. Intellectual property can be achieved through a patent, trademark, or copyright against the original work.
Intellectual property rights protect your business while ensuring your products are not being copied by competitors. Regardless of the actual intellectual property laws, all cater to the same purpose of protecting the original creative work.