**Intellectual property** plays a strategic role in business by protecting innovations, brand identity, and competitive advantage. Businesses that secure their intellectual property rights, such as patents, trademarks, and copyrights, gain exclusive control over their creations, which prevents unauthorized use by competitors. This protection not only encourages investment in research and development but also enhances the overall market value of a business. By safeguarding their intellectual assets, companies can better position themselves in their industry, improve profitability, and maintain a strong competitive edge.