What is meant by intellectual property?

Intellectual property refers to the legal rights that protect creations of the mind, such as inventions, literary and artistic works, symbols, names, and images used in commerce. By defining it as a creative work or invention with rights that may be patented, copyrighted, or trademarked, this answer accurately captures the essence of intellectual property, emphasizing the protection of creativity and innovation under law.

Patents protect inventions and processes, copyrights safeguard original works of authorship like music, literature, and art, while trademarks protect brand identifiers, ensuring that creators or inventors can control the use of their creations and benefit from them economically. This legal framework enables individuals and businesses to secure their innovations and creations, encouraging continued investment in creativity and economic growth. The other options focus on financial assets, physical products, or company strategies, which do not encapsulate the specific nature and scope of what intellectual property represents.