Question: Does halacha recognize the sale of intellectual property?

Answer: Even according to the opinion that halacha recognizes ownership of intellectual property, it remains, nonetheless, intangible. Generally, it is not possible to sell something that is intangible (davar she'ain bo mamash) or that does not yet exist (davar shelo ba la'olam). (C.M. 209:4; 212:1)

Nonetheless, poskim have validated the sale of intellectual property on the basis of dina d'malchusa and minhag hamedina, since the common commercial practice for the past few hundred years has been to sell such rights and franchise licenses. This is true also according to the opinion that there is no actual ownership of IP, only right to profit from one's efforts.

Furthermore, if the idea has been affixed to something tangible, such as ideas put into writing or a prototype model, the owner can sell the ideas along with the tangible paper or model.

However, when selling a future design – it is questionable whether minhag hamedina applies to something that is aino ba'olam. (Pischei Teshuva C.M. 201:1-2)

When selling intellectual property, it is possible to stipulate terms and conditions, like any other sale.

(See Emek Hamishpat, Zechuyos Yotzrim, intro. 16:1-5; ch 14:119)