The term intellectual property, or “IP”, refers to the legal set of rights that protect creative efforts relating to literary, artistic and scientific works; performances; broadcasts; inventions in any and all fields; scientific discoveries; trade marks and designs.
Intellectual property laws create a financial incentive for the creation of and investment in intellectual property and protect the moral rights of those who create copyright works.
Some forms of IP require registration for intellectual property rights to be created, and others do not. For example, copyright does not require registration.