Intellectual property (IP) refers to intangible assets resulting from the creations of the mind: inventions, literary and artistic works, symbols, names, images, and designs used in commerce.
Intellectual property can be protected by formal or informal methods. Formal protection consists in granting to the owners exclusive Intellectual Property Rights (IPR) under intellectual property law. Informal protection consists in methods like secrecy, confidentiality, defensive publishing, fast innovation cycle etc
Intellectual property rights are divided into two categories: industrial property, which includes inventions, trademarks, industrial design, and geographical indications of source; and copyright, which includes literary and artistic works such as novels, films, musical works, paintings, photographs