What does intellectual property refer to?

Intellectual property refers to creations of the mind, which encompass a broad range of intangible assets that are recognized by law as having value. This includes inventions, literary and artistic works, designs, symbols, names, and images used in commerce. The protection of intellectual property is crucial as it allows creators and inventors to control the use of their creations, enabling them to reap the benefits of their innovations and contributions to society.

In contrast, physical assets of a company are tangible items, such as machinery, buildings, and inventory, which do not fall under the realm of intellectual creations. Financial investments refer to the funding or capital put into businesses, which again do not pertain to the unique ideas or creations that intellectual property covers. Lastly, market strategy documents are internal resources that outline a company's approach to reaching its target market, but they do not directly represent the creative works that constitute intellectual property.