Intellectual property refers to those creations or conceptions that cannot be measured in terms of money. These creations usually tend to be ideas of a creative nature including works such as designs, music, written works, inventions, formulations, symbols and phrases.

All intellectual properties are intangible and intellectual property laws provide an opportunity for monetary benefit to the creators, owners and inventors of these intangible assets. Besides, these intellectual property laws give recognition to the person(s) who create these ideas and have it registered.