Intellectual Property (IP) is a legal field that refers to creations of the mind such as musical, literary, and artistic works; inventions; and symbols, names, images, and designs used in commerce, including Copyrights, Trademarks, Patents, and Related Rights. Under Intellectual Property Law, the holder of one of these abstract "properties" has certain exclusive rights to the creative work, commercial symbol, or invention by which it is covered.
Intellectual Property Rights are a bundle of exclusive rights over creations of the mind, both artistic and commercial. The former is covered by Copyright laws, which protect creative works such as books, movies, music, paintings, photographs, and software and gives the copyright holder exclusive right to control reproduction or adaptation of such works for a certain period of time.The second category is collectively known as "Industrial Properties", as they are typically created and used for industrial or commercial purposes.