Written and recorded works, ideas, formulas and other creative intangible property that are owned by an individual or a group of individuals are examples of the economic concept of

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Intellectual property refers to intangible creations of the mind, such as inventions, literary and artistic works, designs, and symbols. These creations can be protected through patents, trademarks, copyrights, and other means, which enable their owners to have exclusive rights to use and exploit them for a certain period of time. Intellectual property is a form of capital that can generate economic value for its owners and for society as a whole, by fostering innovation, creativity, and competition. It is subject to many legal and ethical issues, such as piracy, fair use, and balancing private rights and public interest.

Written and Recorded Works, Ideas, Formulas and Other Creative Intangible