Intellectual Property (IP) is a legal term used in reference to legal rights of an individual or a company over a specific product. Intellectual Property is protected by legal provisions across different legislations. The owner of the intellectual property has the right to seek legal remedy in case of copyright law infringements.
Anglo-Saxon and Common Law jurisdictions impose heavy sanctions for the infringement of intellectual property rights. The most recent set of Legislations was passed by the EU Parliament and Council on intellectual property rights infringement on the Internet.