Chris McElwain, JD

What separates a freelance personal trainer from a fitness entrepreneur? A big part of the answer is intellectual property.
Intellectual property is a catchall term for a bucket of legal concepts, all directed toward a business's intangible assets. IP includes

patents that protect new and useful inventions,
copyrights that protect creative expressions (what media companies call "content"), and
trademarks that protect brands and consumer goodwill.