intellectual property

n. (Law) ownership of inventions or ideas (such as the rights of creators), impalpable property resulting from creativity, property resulting from the work of a person's intellect or mind

For the 2006 film, see Intellectual Property (film). In law, intellectual property (IP) is an umbrella term for various legal entitlements which attach to certain names, written and recorded media, and inventions. The holders of these legal entitlements may exercise various exclusive rights in relation to the subject matter of the IP. The term intellectual property implies that intellectual works ("products of the mind") are analogous to physical property. The term is therefore controversial.
See more at Wikipedia.org...

Noun
1. intangible property that is the result of creativity (such as patents or trademarks or copyrights)
(hypernym) property, belongings, holding, material possession

<legal> (IP) The ownership of ideas and control over the tangible or virtual representation of those ideas. Use of another person's intellectual property may or may not involve royalty payments or permission, but should always include proper credit to the source.
(1997-03-27)

A collective term used to refer to new ideas, inventions, designs, writings, film and others protected by copyright, patents, trade-marks, etc.