Intellectual property

= Introduction =

In law, intellectual property (IP) is an umbrella term for various legal entitlements which attach to certain names, words and phrases, expressions stored in written and recorded media, and inventions. The holders of these legal entitlements may exercise various exclusive rights in relation to the subject matter of the IP. The adjective "intellectual" reflects the fact that this term concerns a process of the mind. The noun "property" implies that ideation is analogous to the construction of tangible objects.

Intellectual property laws and enforcement vary widely from jurisdiction to jurisdiction. There are inter-governmental efforts to harmonize them through international treaties such as the 1994 World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs), while other treaties may facilitate registration in more than one jurisdiction at a time. Disagreements over such issues as medical and software patents and the appropriate level of copyright enforcement have prevented consensus on a cohesive international system.

= Types of Intellectual Property Rights =

Intellectual property laws confer a bundle of exclusive rights in relation to the particular form or manner in which ideas or information are expressed or manifested, and not in relation to the ideas or concepts themselves. The term "intellectual property" denotes the specific legal rights which authors, inventors and other IP holders may hold and exercise, and not the intellectual work itself.

Intellectual property laws are designed to protect different forms of subject matter, although in some cases there is a degree of overlap. These include


 * Copyrights
 * Patents
 * Trademarks
 * Trade secrets
 * Semiconductor chips
 * Industrial design rights

Some lawyers also would include the right of publicity as an IP right as well.