A more thorough explanation:

IP stands for Intellectual Property. It refers to things that are created by someone's original idea, like inventions, designs, books, pictures, and names. IP law protects the control of these original ideas. In the United States, there are different types of IP rights that are regulated, such as copyright, patent, trade secret, and trademark.

Copyright protection is regulated by the U.S. Copyright Act. It protects the original authorship of things like books, music, and movies. For example, if someone writes a book, they have the right to control who can make copies of it or turn it into a movie. However, there are some cases where using copyrighted material is allowed, such as if it's considered "fair use".

Example: An illustrator creates a picture book and licenses it to be turned into a stuffed toy. The toy is also protected by copyright law.

Patent protection is regulated under the U.S. Patent Act. It protects new inventions that are useful and not obvious. If someone invents something that meets these criteria, they can apply for a patent to protect their invention. Once the patent is approved, no one else can make, use, or sell the invention without permission.

Example: Someone invents a new type of phone that can fold in half. They apply for a patent to protect their invention.

Trademark is regulated under the U.S. Trademark Act. It protects things like logos, names, and slogans that are used to identify a particular brand or company. However, if a trademark becomes too widely used, it can become "generic" and lose its protection.

Example: Nike has a trademark for their "swoosh" logo. No one else can use that logo without permission from Nike.