Nowadays, intellectual property rights have become so important that they have found their way into universities around the world, and due to their highly financial value, are providing abundant revenues for governments. The above-mentioned issue, although belatedly dealt with formally and in the present form, has a long past record in the world of Islam, and the Muslim jurists – both Shī'a and Sunnī – have researched and commented on it. Some Muslim jurists have presented their own evidences as opponents to the above rights and regarded them illegitimate; others have spoken of their legitimacy. In the present paper, the legal bases of the Shī'ī jurisprudence, including the viewpoints of both opponents and proponents of the above rights, have been examined and concluded to be legitimate In the end, ways of transferring these rights from the viewpoint of Shī'ī jurisprudence, such as rent, sale, settlement of a claim (ṣulḥ), gratuitous and non-gratuitous donation (hiba), etc. are touched upon, and contrary to some Shī'a and Sunnī jurists, who do not approve of the sale (bay') of the above rights, this type of sale is concluded to be legitimate by virtue of developments in property ownership, financial value, and sale as well as the difference between present and past criteria of property and its financial value, the sale of intellectual rights are concluded to be valid. Moreover, bearing in mind the right of society as well as that of the individual, a limitation has been set for the above-mentioned rights and like construction of multi-storey buildings (ta'allī) its time restriction is to be determined by the common law ('urf).