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Intellectual Property [IP] refers to creations of the mind, which include, but not limited to inventions; literary and artistic works; designs; and symbols, names and images used in commerce. In general, IP is divided into two categories: Industrial Property includes patents for inventions, trademarks, industrial designs and geographical indications; and Copyrights which are creations related to literature, such as manuscripts, novels, etc., and fine arts, such as plays, films, and the like.

The importance of protection of IP through IP Rights was first recognized in the Paris Convention for the Protection of Industrial Property (1883) and the Berne Convention for the Protection of Literary and Artistic Works (1886). Both treaties were administered by the World Intellectual Property Organization (WIPO).