"What are the characteristicsof IP?"
In contrast to conventional property rights, IP rights are not tangible and have certain limitations. These rights are exclusive, which means that the owner has the right to exclude others from using or benefiting from the protected creation. They are also territorial, meaning that they are only protected in the country where they have been registered or granted. Additionally, IP rights have a limited duration, which varies depending on the type of right. However, some IP rights have certain exceptions to these limitations. For instance, trade secrets can potentially last indefinitely, as long as they remain undisclosed.