Intellectual Property Rights
Definition
Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.
Analogy
Intellectual property rights are like claiming a treehouse you built in your backyard. You designed it, you built it, so you get to decide who can come in and use it.
Related terms
Copyright: This is a legal term used to describe the rights that creators have over their literary and artistic works.
Patent: A government authority or license conferring a right or title for a set period, especially the sole right to exclude others from making, using, or selling an invention.
Trademark: A symbol, word, or words legally registered or established by use as representing a company or product.
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