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Inventions, literary and artistic works, designs, and symbols, names, and pictures used in business are all examples of intellectual property (IP). Patents, copyright, and trademarks are a few examples of IP protection under the law that allow people to profit financially or gain notoriety from their inventions. The IP system seeks to provide an environment where creativity and innovation can thrive by striking the correct balance between the interests of innovators and the larger public interest. The field of intellectual property is very broad. For a very long time, trademarks have been recognized alongside designs, copyrights, and patents. Newer types of protection are also evolving, which is especially encouraged by the vibrant upsurge in technology and scientific endeavors. The idea of intellectual property is not new, since the intellectual property system is believed to have its roots in northern Italy during the Renaissance.
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