Intellectual Property is a blanket term for several distinct property rights an individual or a business might have.  The three main rights that get lumped under the IP moniker are patents, copyrights and trademarks, but trade secrets can also be an important part of a comprehensive business strategy.

A business might find itself on either end of an intellectual property right: you might need to stop someone else from selling counterfeits of your products or copying your software, or someone else might send you a cease & desist letter (or serve you with a lawsuit) for allegedly infringing a patent.  Then there's the creation of new IP rights: registering new trademarks and applying for new patents to protect your technical innovations.

Mersenne Law llc provides legal advice and services to help you deal with all your IP needs.