The Definition of Intellectual Property
There is no universally acceptable formal definition of intellectual property (IP).
Intellectual property can be primarily categorized into copyright and industrial property. Copyright deals with the protection of literary or artistic creations. Industrial property deals with the inventions, trademarks, commercial names and the like
How Is Intellectual Property Important to Ecommerce?
Intellectual property law protects against disclosure of trade secrets and, as a result, against unfair competition. That makes intellectual property an asset that is perhaps worth more than any tangible asset. This can be seen most clearly in relation to technology and the digital economy.
Without intellectual property practices and laws, hard work is stolen and spread around the globe without paying the creator for their labor. Who, then, wants to create new works? Technical security is necessary to deter the less proficient thief and intellectual property laws are required to deal with the more serious criminal.