IP can be both pre-existing property like Marvel, Star Wars, etc or a publisher coming to a writer with an original idea of their own. It can be working with a packager, with a company like Disney, or just directly with a publishing house. https://twitter.com/acethirtynine/status/1293711890745450497

My time with Glasstown would have qualified as IP as GTE would have owned the copyright on the finished book, but the story was one I built with them and the words and heart was mine. I have many friends who have made brilliant, diverse, heartfelt books with packagers.

Another example is Everything, Everything by Nicola Yoon. That was an IP project brought to her by Alloy (I think? Don’t quote me on this) but no one would ever say that she didn’t make that entirely her own.

IP can also have more rigid guidelines. I know some Star Wars and Disney writers who had some rules they had to follow, but they were still very honored to work in such a beloved playground and love the characters and stories they got to set there.

If/when (come on, please!) I get to write a YA #ScoobyDoo, I would assume that deal would require me to play within the existing brand but I would also be tickled pink to write a modern and diverse take on the iconic Scooby Gang. TL;DR is that IP is fun and varies widely!

Also, you may see IP and WFH used interchangeably. They mean “intellectual property” and “work for hire.” WFH is the act that creates IP.