Which of the following best defines "intellectual property"?

The concept of "intellectual property" is best defined as the legal rights that result from intellectual activity. This encompasses a wide range of intangible creations of the mind, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. Intellectual property rights allow creators and inventors to protect their work and have control over its use, thus incentivizing innovation and creativity.

This definition is inclusive of all forms of intellectual creations, including those protected by patents, copyrights, trademarks, and trade secrets. By focusing on the protection of the rights that arise from intellectual efforts, this answer reflects the broader scope of what constitutes intellectual property.

In contrast, the other choices narrow the definition or focus incorrectly on aspects that do not encompass the full meaning of intellectual property. For instance, equating it solely to legal rights from corporate activity or limiting it to patents and trademarks overlooks the entire spectrum of creative works that fall under intellectual property rights. Similarly, defining it as ownership of physical property only ignores the essence of intangible assets that intellectual property embodies.