Can one organization apply in different categories with different products/services?
Yes, as long as each product offering is truly distinct, a single organization can apply more than once.
Will I be giving up some rights to my own intellectual property by applying to the challenge?
No. Your intellectual property will remain your own. As it says in our terms and conditions:
"You shall at all times retain all rights to your intellectual property, whether existing before or created for your Application. No licensing agreement is formed by submission of your Application. You confirm that your Application is original and that you own the copyright and any intellectual property rights in your Application."