intellectual property

Definition

A kind of property that includes intangible creations of the human intellect, such as patents, copyrights, and trademarks.

Etymology

First use appears c. 1769.

Example Sentences

• "According to this saga of intellectual-property misanthropy, these creatures [patent trolls] roam the business world, buying up patents and then using them to demand extravagant payouts from companies they accuse of infringing them. Often, their victims pay up rather than face the costs of a legal battle."
• "The ability to shift profits to low-tax countries by locating intellectual property in them, which is then licensed to related businesses in high-tax countries, is often assumed to be the preserve of high-tech companies. […] current tax rules make it easy for all sorts of firms to generate […] “stateless income”: profit subject to tax in a jurisdiction that is neither the location of the factors of production that generate the income nor where the parent firm is domiciled."
• "What Netflix really covets is closer to its current competencies: WBD's “intellectual property”, or in plain English, franchises such as Harry Potter, Game of Thrones, Friends, pictured, and The Sopranos."