Intellectual property can be thought of as protecting ideas and other products of the mind. Intellectual property provides a set of exclusive rights to an individual who has produced an intangible asset. In this way, intellectual property is less tangible than real property that has a geographical location with definite boundaries. In the United States, there are several different type of intellectual property, including patents, trademarks, trade dress, copyrights, and trade secret. Each different type of intellectual property grants different exclusive rights and requires different standards to be met by the individual.
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