Talk about ‘property’ and the first connection you are likely to make is ‘real estate,’ such as a house, a farmland, or a commercial building, that you can actually touch, feel, and live in. An intellectual property (IP) refers to something entirely different. Any idea that takes on a form and later finds expressions as a film, a book, a TV show, a game, or anything else that people play, watch, read, and recognize can be classified as IP. Trademarks, copyrights, trade secrets, patents, literature, music, and art are all intellectual properties. To put it simply, IP is a creation of imagination over which a corporation or an individual enjoys legal monopoly. Incidentally, the term ‘intellectual property’ is also used to refer to those laws…