**Intellectual property** is a broad categorical description for the set of [intangible assets](https://www.investopedia.com/terms/i/intangibleasset.asp) owned and legally protected by a company or individual from outside use or implementation without consent. An intangible asset is a non-physical asset that a company or person owns. Source: <https://www.investopedia.com/terms/i/intellectualproperty.asp>