Intellectual property refers to any creation of the mind, especially those that could potentially be worth something for the person who thought it up. This could be an idea, a song, a piece of writing, the solution to a math or engineering problem, the cure for cancer, and anything else that can be useful or entertaining. Many startups are built on the intellectual property of their founders.
Intellectual property is protected by copyrights, patents, and trademarks because its unauthorized duplication or misrepresentation can deprive its owner of millions in lost sales.
Other interesting terms…
