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Intellectual property (IP) is a category of property that covers intangible creations of the human intellect. It includes multiple legal forms of rights—most commonly patents, copyrights, trademarks, and trade secrets—though different countries may recognize additional or different categories. The modern concept of IP developed in England in the 17th and 18th centuries, and the term “intellectual property” became widely used later as IP protections spread across legal systems. The scope of IP law is to grant creators and businesses limited-time property rights over certain information and intellectual goods, typically in exchange for public disclosure (especially for inventions). Because ideas and creative works are intangible and generally non-depleting, IP law must balance strong enough protections to encourage creation and innovation against the risk that overly broad rights can restrict access and follow-on use. This balancing focus is a central theme in modern IP law and policy.
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