What does Intellectual Property (IP) mean?
Intellectual Property (IP) refers to creations of the mind — including stories, scripts, characters, music, images, and performances — that are protected by law from unauthorized use. In the entertainment industry, intellectual property is the foundation of nearly every deal. Films, television shows, books, video games, and other creative works are IP assets that can be sold, licensed, adapted, and monetized in multiple ways. For performers, their likeness, voice, and recorded performances are forms of intellectual property protected by contract and, in some cases, by law.
Example:Before the production company could adapt the popular novel into a film, they had to acquire the IP rights from the author’s estate — negotiating a licensing fee and agreeing on the scope of adaptations they were permitted to make.
Example: A parent carefully reviewed the contract before signing to ensure that the production company did not acquire unlimited IP rights to her child’s performance — particularly for future uses beyond the original project.
Did you know?
The most valuable IP in entertainment history is arguably the Marvel Universe, which Disney acquired in 2009 for approximately $4 billion. The acquisition has since generated over $33 billion in global box office revenue alone — making it one of the most lucrative IP investments ever made.
You can also find “Intellectual Property (IP)” and related terms in this category: Contracts and Agreements.
