Intellectual property, also known as intellectual property rights, refers to the exclusive rights enjoyed by the obligee according to law for the achievements created by its intellectual labor and the marks and reputation in business activities. Intellectual property is an intangible property, which has the characteristics of exclusiveness, timeliness and regionality. Most intellectual property rights need to be obtained through legal procedures. There are two types of intellectual property rights: copyright and industrial property rights.
In essence, intellectual property is an intangible property right, and its object is intellectual achievements or knowledge products, an intangible property or formless spiritual wealth, and a labor achievement created by creative intellectual labor. Like tangible property such as houses and cars, it is protected by national laws and has value and use value. The value of some major patents, well-known trademarks or works is much higher than tangible property such as houses and cars.