What is intellectual property?

Intellectual property refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. It encompasses intangible assets that originate from creativity and innovation, distinguishing it from tangible assets like property or equipment.

The correct choice emphasizes that intellectual property is an intangible creative work that can be manifested in various physical forms. For example, a novel, a software program, or a patented invention can all exist as physical expressions of creative thought. This definition is central to the understanding of intellectual property, which is designed to protect the rights of creators and ensure that they can control and benefit from their original ideas.

In contrast, the other options describe different concepts: tangible assets refer to physical items you can own (like buildings or machinery), government-issued securities relate to financial instruments and investment rights, and real estate specifically deals with property in terms of land or buildings. Understanding intellectual property requires recognizing its distinct nature as intangible creations that are essential for fostering innovation and creative expression in society.