The term “intellectual property” refers to creations of the mind, such as inventions; literary and artistic works, and symbols, names and images used in commerce.
Intellectual property is protected in law by, for example, patents, trademarks, and industrial designs which enable people to earn recognition or financial benefit from what they invent or create. By striking the right balance between the interests of innovators and the wider public interest, the intellectual property system aims to foster an environment in which creativity and innovation can flourish.
There are two kinds of intellectual property:
Industrial property, which includes inventions, trademarks, and industrial designs.
Copyright, which applies to literary works (such as novels, poems and plays), films, music, artistic works (such as drawings, paintings, photographs and sculptures) and architectural works.
*As defined by the World Intellectual Property Organization