Intellectual property (IP) consists of any ideas, concepts, insignias, and symbols that are unique andoriginal to the owner. IP has various broad categories: copyright, trademarks, patents, designs, andother types of information. The concept is best thought of as a bundle of rights protected by law. Tradesecrets, expertise, and know-how, are instances of confidential company information that are alsocovered by IP laws. These ideas and concepts are assets to an organization or country and can beextremely valuable. It has been estimated that IP, as intangible assets, constitutes around 75 percent ofthe assets of publicly-listed U.S. businesses (Economist 2005). Technology-licensing revenues areestimated to amount to $45 billion in the U.S. and over $100 billion (and growing) worldwide. Thisdemonstrates the importance of protecting IP.