intellectual property
in-tuh-LEK-choo-ul PROP-er-tee
/ˌɪntəˈlɛktʃuəl ˈprɒpərti/
Creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce, to which exclusive rights are granted.
A broad legal term encompassing various forms of creative and innovative work, including copyrights, patents, trademarks, and trade secrets. It refers to intangible assets.
The story behind the word. This term combines `intellectual` (from Latin `intellectus`, 'understanding') and `property` (from Latin `proprius`, 'one's own'). It emerged in the 19th century to describe the legal concept that creations of the mind could be owned, just like physical property, reflecting the growing recognition of the economic value of innovation and creativity.
Word relationships
- creative assets: A more general, less legalistic term for works of creativity.
- intangible assets: A broader accounting term for non-physical assets, including IP but also goodwill, brand recognition, etc.
- physical property: Tangible assets like land, buildings, or equipment.
Collocations
- protect intellectual property
- intellectual property rights
- intellectual property law
- manage intellectual property
Example sentences
- "The tech startup's most valuable assets were its algorithms and software, which constituted its core intellectual property." Protecting a company's innovations.
- "Protecting intellectual property is crucial for fostering innovation and ensuring creators are rewarded for their efforts." A legal discussion on creative rights.
Memory hook
It's `property` that comes from your `intellect` (mind). Mind's property.
When not to use
For physical possessions like a car or house; it specifically refers to intangible creations of the mind.
Fun facts
- The World Intellectual Property Organization (WIPO) is a UN agency dedicated to promoting IP protection.
Related words
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