intellectual property versus copyright

I grok copyright. I grok publication rights. I also grok intellectual property when it comes to inventions and discoveries. Where I'm getting lost is intellectual property in the context of fiction. Is IP the same as publication rights, or is it linked to copyright/derivative works, or is it an entirely different dog?

I ran across this bit -- a website's submission guidelines say that by submitting a story to them, you are agreeing with their terms and conditions; the T&C page then says:

Regarding any submissions you make to the site You agree that any material (including any Intellectual Property Rights in such material), including but not limited to chat services, bulletin boards or articles or stories submitted for publication on the website or in using any of the Sapphic Central services ("User Generated Content") may be retained and used by Sapphic Central.

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Can anyone explain what exactly the IP in a story or article would be? Many thanks!

Thanks, Med. So if you give up IP you also give up copyright?

I agree -- if they were on my list of places to submit, they'd get crossed off pretty darned quick.