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What is the legal term for ownership of intangible assets like ideas and software?

A. Site license
B. Proprietary
C. Intellectual Property
D. Digital Rights Management

1 Answer

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Final answer:

The legal term for ownership of intangible assets such as software is 'intellectual property', encompassing patents, copyrights, and trade secrets, each providing different protections.

Step-by-step explanation:

The legal term for ownership of intangible assets like ideas and software is known as intellectual property. This includes patents, trademarks, copyrights, and trade secret law that protect the rights of inventors and creators to produce and sell their innovations or creative expressions. Countries have laws to protect intellectual property, and organizations like the World Intellectual Property Organization (WIPO) work to harmonize these laws internationally.

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