Ideas and expressions can be among a business’s most valuable assets. Intellectual property is the set of legal rights that protect creations of the mind, including inventions, literary and artistic works, designs, symbols, and confidential business information.

Major categories include patents, copyrights, trademarks, and trade secrets. Each has distinct requirements, terms of protection, and enforcement mechanisms. Intellectual property law balances incentives for creation with public access and competition.

Companies manage portfolios of rights through registration, licensing, and litigation when necessary. Infringement claims seek damages and injunctions. International treaties coordinate protection across borders, though national laws still differ in important details.

• Legal rights in creations of the mind
• Includes patents, copyrights, trademarks, trade secrets
• Balances innovation incentives with public access
• Enforced through civil remedies and sometimes criminal law