Intellectual Property typically refers to patents, copyrights, trade secrets and trademarks that are used to protect the innovative efforts of an organization. Patents protect certain novel, useful and non-obvious inventions. Copyright protect particular expressions of an idea, though not the idea itself. Trade secrets protect information that has value by virtue of not being generally known of ... [Show full abstract] readily ascertainable by others. Trademarks protect certain goodwill associated with the organization's goods and services.