IP stands for Internet Protocol and defines the format of data sent over the internet or local networks. There are four types of IP addresses: public, private, static, and dynamic. IP addresses also fall into classes A through E, which define the first numbers in an IP address. Public IP addresses can be accessed directly over the internet while private IP addresses are non-routable. Static IP addresses remain the same until a device is removed from the network, while dynamic IP addresses can change as they are temporarily assigned by an ISP.