Final answer:
Intellectual property refers to an author's right to control and protect their original work. Copyright laws and patents grant authors and inventors exclusive legal rights over their work for a limited time.
Step-by-step explanation:
Intellectual property refers to an author's right to control their original work and prevent others from taking credit for it. This includes books, music, films/videos, and pictures. The author is granted legal protection through copyright laws, which give them exclusive rights over their work for a limited time.
During this period, no one else can manufacture, sell, or use the work without the author's permission. Patents, on the other hand, give inventors exclusive legal rights over their inventions for a limited time.