Source : WordNet®

intellectual property
     n : intangible property that is the result of creativity (such
         as patents or trademarks or copyrights)

Source : Free On-Line Dictionary of Computing

intellectual property
     
         (IP) The ownership of ideas and control over the
        tangible or virtual representation of those ideas.  Use of
        another person's intellectual property may or may not involve
        royalty payments or permission, but should always include
        proper credit to the source.
     
        (1997-03-27)