What is intellectual property?
1. Physical creations
2. Intangible ideas***
3. Material items
4. Models
Right.
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Intellectual property refers to original creations of the human mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. It is a legal concept that grants exclusive rights to creators or owners to protect their intangible ideas and creations from being used or exploited by others without permission.
To determine the correct answer from the provided options, we need to understand that intellectual property primarily focuses on intangible ideas and creations. While physical creations and material items can be protected under different branches of law like patents, copyrights, or trademarks, intellectual property specifically encompasses intangible ideas. Therefore, the correct answer is option 2, "Intangible ideas."