IP

Intellectual property ("IP") that is already associated with a popular brand. With branded IP at their disposal, movie studios don't have to take chances any more. Why would they forego the built-in audience a superhero movie brings? Do the studio executives only take meetings pertaining to branded IP anymore? Because it sure seems that way. A: "We can't spend that much just to acquire their branded IP." B: "But, don't forget, we'd also be acquiring their legions of fans."

An initialism of "in possession." A prison term referring especially to drugs and medication. There are many safety protocols in place regarding IP medications for prisoners. She has severe asthma, so her inhaler needs to be an IP med. I'm always hesitant when it comes to IP drugs and prisoners. There's just always the risk that they'll fall into the wrong hands.