Definition

1. Noun:
   • Intangible property resulting from creativity: "Intellectual property" refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. These are protected in law by patents, copyrights, and trademarks, which enable creators to earn recognition or financial benefit from their work.

Usage

• Intellectual property is a legal and business concept. It is treated as a form of property that can be owned, bought, sold, licensed, or infringed upon. It is crucial in fields like technology, entertainment, publishing, and branding.
• It is typically used as a non-count noun, referring to the general category or concept (e.g., "protect intellectual property"). It can also be used in a countable sense when referring to specific items or types (e.g., "valuable intellectual properties").

Examples

• Noun:
  • Companies invest heavily in research to develop new intellectual property.
  • The lawsuit was about the theft of intellectual property.
  • Respecting intellectual property rights is essential for innovation.

Advanced Usage

• "Intellectual property portfolio": the collection of patents, trademarks, copyrights, and trade secrets owned by a person or company.
  • The startup's value lies in its strong intellectual property portfolio.
• "Intellectual property law (IP law)": the area of law that deals with the protection and enforcement of rights to inventions, designs, and artistic works.
  • She specializes in intellectual property law.

Variants and Related Words

• IP (abbreviation, noun): A common abbreviation for "intellectual property."
  • The merger agreement included all IP assets.
• Intellectual Property Rights (IPR) (noun phrase): The legal rights granted to the creators of intellectual property.
  • The treaty aims to harmonize intellectual property rights across member countries.

Synonyms

• Creations of the mind: A descriptive phrase for the outputs protected as intellectual property.
• Intangible assets: A broader business term that includes intellectual property along with other non-physical assets like goodwill.

Related Phrases

• "Infringe on intellectual property": to violate or use someone's protected intellectual property without permission.
  • The company was found to have infringed on our intellectual property.
• "License intellectual property": to grant permission to use intellectual property under specified terms.
  • They decided to license their intellectual property to a manufacturer.

Related Idioms

• "To own the IP": to hold the legal rights to a particular creation or invention.
  • The inventor made sure she owned the IP before presenting the idea to investors.

Noun

1. intangible property that is the result of creativity (such as patents or trademarks or copyrights)