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intellectual property refers to creations of the mind such as inventions literary and artistic works designs and symbols names and images used in commerce intellectual property is protected in law by copyright patents and trademarks which enable people to earn recognition or financial benefit from what they invent or create the intellectual property system aims to foster an environment in which creativity and innovation can flourish lets define the term copyright copyright or authors right is a legal term used to describe the rights that creators have over their literary and artistic works works covered by copyright range from books music paintings sculpture and films to computer programs databases advertisements maps and technical drawings copyright protection extends only to expressions and not to ideas procedures methods of operation or mathematical concepts as such there are two types of rights under copyright first economic rights which allow the rights owner to derive financial