Intellectual Property

In law, intellectual property is an umbrella term for various legal entitlements which attach to certain names, 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 intellectual property.  The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect. 

Source: Intellectual Property on WikiPedia 

Intellectual Property - Property that can be protected under federal law, including copyrightable works, ideas, discoveries, and inventions.  Such property would include novels, sound recordings, a new type of mousetrap, or a cure for a disease. 

Intellectual property refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.

Intellectual property is divided into two categories: Industrial property, which includes inventions (patents), trademarks,  industrial designs, and geographic indications of source; and copyright, which includes literary and artistic works. 

Source: World Intellectual Property Organization