Intellectual property rights

Property is something that individuals and companies can own. Broadly, the property is divided into: Tangible and intangible property. The word ‘tangible’ refers to something that has a definable physical form that can be touched, whereas, word ‘intangible’ refers to something that cannot be perceived by the senses. Further tangible property can be divided into two distinct types that is: Real property refers to land or real estate; Personal property refers to specific items and things that can be identified, such as cars, jewelry and artwork; and intangible property is intellectual property that is, refers to the fruits or products of human creativity, including literature, advertising slogans, songs, or new inventions.
Thus, the property which is the result of thought, named intellectual activity, is called intellectual property. In some foreign countries, intellectual property is referred to as industrial property. Intellectual property can be bought, sold and licensed. Similarly it can be protected against theft or infringement by others. Intellectual property law protects the results of human creative endeavor, by protecting the intellectual property against any infringement. Intellectual property protects rights to ideas by protecting rights to produce and control physical instantiations of those ideas. For example, if you were to purchase the latest best seller by Chetan Bhagat, you would be entitled to read the book or sell it or giving it away but you would not be entitled to make photocopies of the book and then sell those copies. Those rights are retained by the author of the book and are protected by the copyright law.
Intellectual property is a field of law that aims at protecting original ideas, the knowledge created through human effort in order to stimulate and promote further creativity. Authors who write books and musicians who compose songs would be unlikely to be engaged in further creative efforts unless they could realize the profit from