Definition of "intellectual property" [intellectual property]

• A product of the intellect that has commercial value, including copyrighted property such as literary or artistic works, and ideational property, such as patents, appellations of origin, business methods, and industrial processes. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• ""There are legitimate infringement issues," says Anthony Falzone, who has litigated intellectual property cases and who runs the Fair Use Project at Stanford Law School."
• "Meanwhile, the Tee & Charles Addams Foundation in Wainscott, N.Y., which said it owns "the intellectual property associated with all works by Charles Addams," said in an email that small acting companies "producing a play based on the characters, or including any of the characters from 'The Addams Family'" would need to seek a license from the foundation."
• "*By 1969, Blackwelder paid $225,000 in technology royalties to the University of California for the intellectual property rights to manufacture the tomato harvester Schmitz and Seckler, 1970."