ABSTRACT
The march of invention has clothed mankind with powers of which a century ago the boldest imagination could not have dreamt.
Henry George
Intellectual property (IP) is a generic term used to describe the products of the human intellect that have economic value. IP is “property” because a body of laws has been created over the last 200 years that gives owners of such works legal rights similar in some respects to those given to owners of real estate or tangible personal property. IP may be owned, bought, leased (licensed), and sold the same way as other types of property.
