Conceptualism is a philosophical theory that mediates between realism and nominalism, positing that universals exist only within the mind and have no external or substantial reality. It emerged as a significant viewpoint during the medieval period, influencing the development of modern philosophy by emphasizing the role of human cognition in the formation of concepts.
The 'Existence of Universals' is a philosophical debate about whether universals—qualities or properties that can exist in multiple particulars simultaneously—actually exist independently of the mind. While Realists argue for the independent existence of universals, Nominalists claim they are merely names or labels used to group similar objects or ideas.