When we use the term property, it is not just the tangible things such as homes, structures, vehicles, currency etc that are protected by law. There are several other types of intangible property known as intellectual property that have been provided for under the law and granted safety against misuse. Patents, trademarks and copyrights are the three main categories of intellectual property.

When an author has created an original composition, he or she owns the copyright over this work and is granted ownership for them. It includes not only original literary pieces but also other forms of creative expression like music, videos, films etc. The copyright bestows the sole right of ownership over the work in question besides rights to get monetary benefits resulting from the work.

Trademarks on the other hand are intellectual property that pertains to protection accorded to certain words, symbols and other marks that distinguish the source of one item from the other. With this legal provision, trademark is safeguarded from duplication by unscrupulous persons who want to exploit established brands.

The last intellectual property right is a patent, which is granted to inventors to safeguard their unique and beneficial creations and inventions. Patents are valid for a predetermined span within which the owner can enforce his sole right to sale and other commercial use of his invention.

Some other, less often found intellectual property rights are also safeguarded by the law. To give some instances of these rare intellectual properties, they can be some special understanding carried forward by a particular family only; company secrets like recipes behind popular products; and location based symbols or marks to refer to a product arising from that place, like Champagne.

Though these forms of intellectual property are separate from each other there are certain commonalities between the three. All three are provided for by law in a manner that enables the holders of the property to take legal action against the infringer and get compensation for infringement.

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