Intellectual property
What is intellectual property?
Intellectual property constitutes ideas, concepts, knowledge, etc, that have a monetary value in business and societal circles. Some of the most common examples include music and films, but more business-specific cases might involve new inventions, processes, software, and other ‘products.’
Intellectual property is protected via the application of copyrights, trademarks, and specific terms that ensure they cannot be utilized without due recognition and financial remuneration. If someone violates the terms of these protections, they will be liable for damage to the intellectual property right’s owner, whether that is a company or an individual.