What is intellectual property?

Creative or artistic realization of an idea which is a result of human intellect belongs to its creator and, under certain circumstances, represents his/her intellectual property. Although non-tangible in a physical sense, intellectual property has all the characteristics of property, so it can be bought, sold, licensed, exchanged, presented as a gift and inherited like any other property.

Intellectual property law comprises a system of legal instruments regulating the manner of acquisition of intellectual property and the manner of its protection against unauthorized use.

In the business sense, intellectual property represents non-material assets, the successful exploitation of which can be a valuable business basis.