Essentially, IP is intangible property developed through a thought-out process and acquires commercial value upon use in the marketplace. As a result of being commercially valuable, the law creates exclusive rights to the IP developer. There are four main areas of IP: trade secret, trademark, copyright, and patent. Trademarks differ from copyrights and patents. A trademark grants positive rights meaning that a trademark holder is granted the right to use the mark. Copyrights and patents grant negative rights, thereby prohibiting everyone except the copyright or patent holder from using the protected property. IP owners are free to transfer their rights to others, just like owners of tangible property.