Intellectual property is an important and interesting part of the overall landscape of company and individual assets and rights. Different individuals are working to secure the rights that they have to their own ideas and creations. Companies and individuals should complete an intellectual property audit to understand their intellectual property assets. Intellectual property refers to any type of creation that comes from the mind. This can include simple ideas that are brainstormed for various products and prototypes. These ideas can be protected, helping to provide the rights-owner with the time that they need to execute their idea. Various forms of intellectual property include copyrights, trademarks, trade secrets, design patents and utility patents. Intellectual property goes beyond tangible goods and ideas that can produce tangible goods. Intellectual proper includes music, artwork, books, software, photographs and more. The intellectual property goes beyond the tangible to protect the ideas behind the words, lyrics and brush-strokes of these various pieces. An intellectual audit helps an individual or company to bring together all of the pieces that they have that could be considered intellectual property. These individuals and companies can then work to understand what they have moved to protect, and what they have yet to protect. It can be a reminder to companies and individuals to file for the various applications that will allow them to hold the rights to their ideas and intangible products. Intellectual audits are important for any company or individual to complete. These audits will help them to better understand their various assets; it may even highlight assets that companies or individuals did not realize that they had. In the end, this audit can help to avoid disputes and lawsuits; when you have the rights for your intellectual assets, disputes and lawsuits are easy to handle.