“The future of the nation depends in no small part on the efficiency of industry, and the efficiency of the industry depends in no small part on the protection of intellectual property.” Judge Richard Posner in Rockwell Graphic Systems, Inc. v. DEV Industries, 925 F.2d 174 (7th Cir. 1991)

The field of intellectual property (IP) reaches wide, and is probably the most dynamic field of law, as it constantly changes. What does it relate to? The nature of IP is best understood through a comparison with other, tangible, forms of property. One example is immovable property, such as a piece of land.

Other examples are things, such as a vehicle, a watch, or a soccer ball. In these instances, one has rights to the object itself. In other words, your rights would be infringed if the object is destroyed. The position with IP is different. An example might be a patent for a pair of night vision binoculars. The intellectual property rights of the patentee would not be infringed if the binoculars are destroyed. The reason for this is that it is the invention that is protected and not the binoculars. IP is, accordingly, that body of law that regulates the creation and utilization of immaterial property, and the enforcement of resultant rights. The objects of the various IP rights typically include patents, copyright, registered designs, and trademarks.... [-]