According to the definition from WIPO (World Intellectual Property Organization), Intellectual Property (IP) refers to creations of the mind, such as inventions, literary and artistic works, designs, symbols, and so on. The output from creations of the minds then used in commerce to produce economic value for the inventors who created the creations of minds. While Intellectual Property Rights (IPR) is right for inventors of the economic value and the right to get the protection of their creations of minds.
Intellectual Property Rights broadly divided into 2 parts, that is industrial property rights and copyrights. Industrial property rights such as patents, trademarks, industrial designs, layout designs of integrated circuits, and unfair competition prevention practices. Copyrights includes literary and artistic works such as novels, poems and dramas, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs.