The World Intellectual Property Organization defines Intellectual Property (IP) as a reference to creations of the mind, such as inventions, literature, film, and designs used in business.

In the context of Video Games, the term “IP” refers to a specific game or character that has been created or is owned by a video game company.

Examples of usage:

  • Mario is one of Nintendo’s many IPs.”
  • “Sonic is one of Sega’s most popular IPs.”
  • “We can’t use Nathan Drake in our game. He’s part of Naughty Dog’s IP.”

References: Retrieved on 6/9/2012.