Intellectual property is an intangible property that arises out of mental labor. It encompasses inventions, designs, artistic work. Federal and state laws give certain rights and protections to those who develop creative works to exclusively control intangible assets in the form of Copyrights, patents, trademarks, trade secrets. It refers to creations of the mind: inventions, literary and artistic works, and symbol, names, and images used in commerce. Intellectual property is divided into two categories:
1.Individual property :
Individual property is one type of intellectual property which is single or individual. It includes a patent for inventions, trademarks, industrial designs, and geographical indications.
2.Copyright:
Copyright is 2nd or another type of intellectual property which is also single and It includes and covers literary works(such as novels, poems, and plays), Films, music, artistic works.eg drawings, paintings, photographs, and sculpture. the Rights related to copyright include those of performances, producers of phonograms.
Intellectual property is also a person who engages in critical thinking, research and reflection about society and proposes solutions for its normative problem.It provides an analytical framework for the ultimate inquiry of whether a particular contact or competition policy and Intellectual property right.
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