They are separate, and largely different forms
of law. Most of what is commonly referred to as "property law" deals
with what is called real property; real estate, land,
etc. However, it does have some aspects of dealing with
tangible personal property (which also overlaps with tort and criminal law)
Intellectual property is a significantly
different form of law drawing on other areas (notably unfair competition law,
especially for trademarks; law of agency;
business law; etc.) but is fundamentally its own "thing."
A notable example of the difference is the
phrase "Possession is 9/10ths of the law." This may be true in
property law, where a possessor has superior rights to most everybody but the
true owner. However, it would fall flat in IP, where your status as the legal
rightsholder is the most important question.
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