What is Intellectual Property?

Intellectual property (IP), as defined by the World Intellectual Property Organization (WIPO), is the generic term that refers to the creations of the mind: inventions, literary and artistic works, and symbols, names, and images used in commerce.

Intellectual property rights reward creators and innovators with the exclusive right, for a limited time, to control what others may do with their work. This exclusive right is justified on the basis that creativity is fostered when innovators are accorded the opportunity to make a return on their investment in creativity or innovation.

The main types of IP are: