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You may have heard this term before but weren't sure exactly what it was. When people speak of intellectual properties, they are referring to your ideas and creativity. Intellectual properties may include:

• Art design

• Business logo

• Business name

• Computer programs

• Formulas

• Ingredients in a recipe

• Inventions

• Newspaper and magazine articles

• Photography

• Product designs

• Writing

• Words in a song

Intellectual properties, just like a car or a gold watch, have value, are protected under the law, and can be bought and sold. Why are some intellectual properties more valuable than others? Much depends on the uniqueness of the property and its competitive value in the marketplace .

Intellectual properties are protected from being stolen in four ways: trademarks, patents, trade secrets, and copyrights.