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Property is frequently defined as the rights of a person with respect to a thing. The difficulties with this definition have long plagued legal theorists. The same problem of definition occurs in non-Western societies as well. In Russia, for example, the word property (sobstvennost) can have various meanings.
Intellectual Property Law and Legal Definition. Intellectual property is a property right that can be protected under federal and state law, including copyrightable works, ideas, discoveries, and inventions. The term intellectual property relates to intangible property such as patents, trademarks, copyrights, and tradesecrets.