Intellectual property generally relates to creations of the mind, and includes copyrights, trademarks, trade secrets and patents. Intellectual property may be created or owned by individuals or businesses, just like any other form of property, and can be protected and utilized in many different ways.
An intellectual property lawyer can help you identify potential IP, protect it through registration, monitor it to prevent infringers, and license it to others. This will help you leverage your IP to the extent you can, and benefit from your hard work.