What does intellectual property protect?

Intellectual property primarily safeguards legal rights associated with creations of the mind. This includes various forms of intellectual outputs such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. By protecting these creations, intellectual property laws grant inventors and creators exclusive rights to use, produce, and distribute their work, which can incentivize innovation and allow creators to benefit from their efforts.

This focus on creative and intellectual output differentiates intellectual property from other forms of property rights, such as financial investments, trade secrets, and physical properties. Financial investments and market shares relate to economic assets and their value in the market rather than individual creativity. While trade secrets are a form of intellectual property, they represent only one aspect of a broader framework that includes patents, copyrights, and trademarks. Similarly, physical properties pertain to tangible assets, which are excluded from the definition and scope of intellectual property. Thus, the protective mechanism of intellectual property serves to foster creativity by ensuring that individuals can reap the benefits of their innovative contributions.