Intellectual Property: This refers to creations of the mind: inventions, artistic and literary works, and symbols, images, names, and designs employed in commerce.
IP is divided into two groups: Industrial property, that comprises inventions (that is, patents), industrial designs, trade-marks, and geographic signs of source; and Copyright, that comprises literary and artistic works similar to novels, films, poems and plays, musical works, artistic works similar to paintings, drawings, photographs & sculptures, and architectural designs. Rights associated to copyright comprise those of executing artists in their performance, producers of phonograms in their recordings, and such of broadcasters in their radio and TV programs.