Intellectual Property (IP)

Intellectual Property (IP) refers to the legal rights that protect creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images. IP allows creators to control and benefit from their innovations and ideas, encouraging creativity and innovation. Common types of IP include patents (for inventions), copyrights (for creative works), trademarks (for brand identities), and trade secrets (for confidential business information). IP rights help ensure that individuals and businesses can protect their unique contributions and prevent unauthorized use by others, fostering a fair and competitive marketplace.