"IP" is not any sort of legal construct.
Intellectual property is a category including copyright, patent, trademark, trade secret, and right of publicity. It has meant that in the United States Code since 1996 when Section 230 of the Communications Decency Act became law.
Do you mean "patent"? Why don't you say "patent"?
Because a single product may be covered by interlocking or overlapping copyrights, patents, trademarks, and trade secrets that are licensed as a package.