Answer:- In simple terms, intellectual property refers to the creations of mind

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Answer:-

In simple terms, intellectual property refers to the creations of mind such as inventions which may include both literary and artistic works like for example designs, symbols, names and images that may be used in commerce. Types of intellectual properties include copyrights, trademarks, industrial designs, patents and geographical indications.

Intellectual property is different from other types of properties because of the following:-

It is intangible which means it cannot be touched.

It cannot be co-owned unlike other kinds of properties.

value cannot be placed on the property like the other properties.

The property is not subject to depreciation like the other kinds of properties.

This kind of property cannot be quantified.

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