What do you mean by intellectual property?

Intellectual property (IP) refers to the legal protection granted to creators and inventors for their original works and innovations. It includes intangible assets that result from intellectual effort and creativity. Intellectual property rights allow the owner to control and benefit from their creations, preventing others from using, copying, or distributing them without permission.

Intellectual property is broadly categorized into two types:

1. Industrial Property: Includes patents, trademarks, industrial designs, and geographical indications.
2. Copyright: Protects original literary, artistic, musical, and dramatic works, as well as films, sound recordings, broadcasts, and computer programs.

The primary purpose of intellectual property rights is to encourage innovation, creativity, and economic growth by providing legal protection and exclusive rights to the creators.