Definition: [ˌɪntəˈlektʃuəl ˈprɑːpərti] is the results of mental activity protected by law and ways of individualization. Its dominant difference consists of immateriality. I.e. you may use it by yourself and simultaneously grant the rights to another person or company. Despite the possibly large number of users, the true owner of a creative product is recognized only by its creator. This means when you purchase a disc with a movie, you are not a stating author of the script, so you cannot adjust the plot or the cast without the necessary permission.
Intellectual Property In a Sentence:
Any product of creative activity falls under the term of intellectual property.
After paying large monetary penalties, a lot of film studios have begun to monitor compliance with intellectual property laws more closely.