Intellectual Property is the generic term for a bundle of intangible rights which accrue to an individual. These rights are personal as opposed to real (as in "real estate") and, once possessed, can be allocated in any manner that the owner sees fit. Such allocation is accomplished through the act of "licensing" the property. The areas in which intangible property is manifested are the following:
The relatively new area of Internet Law is closely related to intellectual property, in that the subject matter is also intangible. In reality, however, Internet Law is developing along the lines of an application of older legal concepts to a new technological development. As such, it is in a constant state of flux, and what is true today may not be true tomorrow. It must be understood that the traditional intellectual property devices of patents, copyrights, and trademarks are quite important to the area of Internet Law, and they are being adapted just as any other set of legal concepts, e.g. the advent of Napster and MP3. As this website evolves, we will more fully develop the concept of Internet Law and how it is related to the traditional areas of intellectual property.