Intellectual Property vs. Tangible Property Legal Protections

Intellectual Property
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Intellectual Property
Intellectual properties refer to intangible assets legally owned and safeguarded by an enterprise or a person from use or enforcement by others without consent. They are non-physical assets owned by people or companies. The law governing intellectual properties is different from property law since intellectual property law protects intangible assets while property law protects physical properties. Intellectual property concepts argue that specific human intellect products should be accorded similar protection to physical property. Companies are careful when identifying and protecting their intellectual properties due to the high value held in the modern economy. Also, the production of intellectual property requires huge investments in intelligence and time, and other people should not access the property without rights. Extracting the value of intelle...