Intangible Assets and IP
IP refers to creations of the mind, for example, inventions, works of art, computer programmes and logos.
These can be protected by law through trade marks, patents, designs, copyright, plant variety rights or geographical indications. Some IP types can be registered, such as trade marks, patents and designs; while others, like copyright, are automatically protected once they are created.
IP is a subset of intangible assets (IA) which are assets that are non-physical in nature as opposed to physical assets such as machinery. Examples of non-IP intangible assets include goodwill, brand recognition and software codes.
Here is a quick overview of IA.