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Intellectual Property (IP)
Practical Law Glossary Item 5-382-3549 (Approx. 4 pages)
Glossary
Intellectual Property (IP)
Intangible products of human intellect that are subject to ownership (title) and other legal rights under state and federal laws in the US and most other jurisdictions throughout the world. The principal categories of IP that are protected under US law are:
- Patents, including utility, plant, and design patents, for certain inventions, plants, and product designs.
- Trade secrets for certain types of confidential business, financial, and technical information.
- Copyrights for certain works of authorship.
- Trademarks, including related IP rights such as service marks and trade names, for certain words and designs.
For more information, see Practice Note, Intellectual Property: Overview.
The Bankruptcy Code's definition of IP differs from those in other bodies of law and excludes trademarks. For more information, see Practice Note, IP Licenses and Bankruptcy.