This document defines and compares intellectual property and physical property. Intellectual property refers to creations of the human mind like inventions, literary works, artistic works, designs, symbols, names and images. It is intangible property that arises from human intellectual effort. While physical property is tangible, intellectual property is intangible but both share characteristics like exclusive ownership and economic value. The document also categorizes intellectual property as industrial property, which includes patents, trademarks, industrial designs, and trade secrets, or copyright, which includes literary and artistic works.