Intellectual Property

I'm not quite sure what intellectual property is, but if I were to guess I would say it has to do something with the inner workings of the mind.  Someone's thought's and ideas would be their intellectual property.  When researching an official definition of what intellectual property, I came across a website called WIPO- World Intellectual Property Organization.  Their definition of intellectual property is "Intellectual property (IP) refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce".  One example I can think of would be McDonald's famous quote, "I'm lovin it", or Subway's "Eat fresh".  I think when something is manipulated and shared, it is no longer intellectual property.  for example, at one point in time, I'm guessing the stove top was someone's intellectual property.  Someone came up with the concept, then decided to share it with others.  Throughout the years, the design of the oven has changed and many different companies have started producing them.  There is no longer a patent on the design.