Intellectual Property(IP)

It refers to creations of the intellect for which a monopoly is assigned to designated owners by law.
Intellectual property rights(IPRs) are the protections granted to the creators of IP, and include trademarks, copyrights, patents, industrial design rights and some jurisdictions trade secrets. Artistic works including music and literature, as well as discoveries, inventions, words, phrases, symbols and designs can all be protected as intellectual property.