This document provides an introduction to intellectual property rights and discusses various types of intellectual property. It defines invention as the creation of a new product or process, while innovation implies implementing an idea for a product or process for the first time. The document then summarizes seven types of intellectual property rights recognized by the WTO: patents, copyrights, plant breeders' rights, industrial designs, trade secrets, trademarks, and geographical indications. It explains how these intellectual property rights systems aim to encourage innovation by granting property rights to creators for a limited time period.