Intellectual Property, Defined

Invention.lifetips.com/cat/64031/intellectual-property/index.html">Intellectual property, as defined by Alex Poltorak, CEO of General Patent Corporation, “consists of products of the human mind and creativity that are protected by intellectual property law.”

Intellectual property has economic value – sometimes great economic value. Like tangible property, intellectual property, or IP, can be bought, sold, and rented. And it can be lost or destroyed through neglect or carelessness.

In today's knowledge-based economy, IP is often the single most important asset of an enterprise.