Intellectual property is personal property that is intangible. As all property is defined by laws, intellectual property is defined by intellectual property laws, which include patent, trademark, copyright, and trade secret laws.
Like all property rights, intellectual property rights are rights to prevent others from using, or otherwise taking advantage of your property, without your authorization.
Intellectual property is often among the most valuable property that a commercial enterprise owns.
It depends. If the property is an invention, you must either obtain a patent or take appropriate steps to keep it a secret. If the property is a story or work of art, you have rights as soon as it is written down or otherwise recorded. If the property is a commercial symbol, you have rights as soon as you use it in the stream of commerce. In all cases, you will need to be mindful of certain legal requirements either to obtain, to maintain, or to maximize your rights.
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