Intellectual property refers to any creation, including things like inventions and art pieces, and how they are used in commerce. Any kind of intellectual property is protected by a series of items such as copyrights, trademarks or patents, depending on the type of property. These protective copyrights or patents also allow the person who created the property to be credited for it and to receive the financial benefits of its sale or use. If you have a trademark or copyright and the property is used by someone else, you could pursue a lawsuit requesting them to cease and desist or requesting compensation for using your product.
Whether you're an inventor or a writer, an entrepreneur or an actor, protecting your creativity and innovation are probably incredibly important to you. This is especially true if you rely on your talent for your livelihood.
New inventions are often considered to be the life blood of any business venture. The allure of new products and services drive public interest and along with it the economy. It's because of this, as well as the promise of turning a profit, that many entrepreneurs have gotten into inventing.