Intellectual Property is a concept that refers to any creation of the mind.
These exclusive rights include but are not limited to, literary and artistic works, inventions, designs, symbols, and names.
As a legal principle, IP traces its origins back to the 15th century, and provides protection under the laws of copyright, patents, trademarks, and design rights which help people to earn financial rewards thus encouraging creative work. It is these protections that have fueled the economic world we all know today and will eventually shape the world of tomorrow.
The IPs that an organization possess or has the rights to is often a crucial factor in its overall value and success. Therefore, proper knowledge and management of IP is absolutely vital, not only for large corporations but also for individual innovators and everyone in between.