IP is a term referring to a number of distinct types of creations of mind for which a set of exclusive rights are recognized.
Under intellectual property law, the owners are granted certain rights to a variety of assets, such as musical, literary and artistic work.
Common types of IP are copyright, trademark and patents.
Licensed IP
Characters and setting are licensed.
Authorization to use the licensed material is given from the holder of the licence to the person who wants the licence.
Serialized Original IP
Created from scratch (often inspired by other copyrighted work) and then built into a new series.
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