Intellectual Property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.
Common types of IP are:
Patents - invention, idea, design, process
Trademarks - word, phrase, design, sound, color, shape
Copyright - literary, dramatic, musical, artistic, films, software
Trade Secrets - may be a formula, practice, process, design, instrument, pattern, or compilation of information, which are not patented, and used by a business to obtain an advantage over competitors within the same industry or profession