Intellectual property (IP) refers in modern law to the legal principles that aim to protect inventions; literary and artistic works; designs; and symbols, names and images used in commerce. Based on these principles, the law attributes to creators and inventors a real monopoly of their inventions, providing people with the necessary legal tools to protect themselves from any use for profit by unauthorized parties.IP is strongly linked to advertising law, which is the practice area that protects customers from fraudulent, deceptive, or misleading product claims.