This document defines copyright and intellectual property, and explains why they are important. It notes that copyright is the exclusive legal right to reproduce, publish, sell or distribute a creative work. Intellectual property refers to creations of the mind like ideas, inventions, and processes. The document uses Coca-Cola's secret formula as an example of valuable intellectual property, and explains that without copyright protection a company could lose its brand, business, and jobs. In summary, the document outlines basic copyright concepts and stresses the importance of proper attribution and permission when using other's creative works.