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Intellectual property (IP) encompasses legal rights that protect creations of the mind, including **patents**, **trademarks**, and **copyrights**.
- **Patents** grant inventors exclusive rights to their inventions for a specific period, typically 20 years, encouraging innovation by allowing inventors to profit from their work.
- **Trademarks** protect symbols, names, and slogans used to identify goods or services, helping consumers distinguish between products in the marketplace.
- **Copyrights** safeguard original works of authorship, such as literature, music, and art, granting creators control over the use and distribution of their works.
For more detailed information, you can refer to resources like the [World Intellectual Property Organization (WIPO)](https://www.wipo.int/about-ip/en/) and the [U.S. Patent and Trademark Office (USPTO)](https://www.uspto.gov/).
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