How exactly do you find a computers location from their IP address?

Please explain in detail. I've already looked through Wikipedia and others. ... What else can be found out about you from your IP address? How easily can you're computer be hacked by knowing the IP address?

Public Comments

1. I believe the most information you can get from an IP address (legally) is the company that provides internet to that IP as well as where the company is located. I think if you could get a person's home address, phone number, etc., that would be illegal, but I'm not 100% sure. Check the source and see what you can get.
2. Your IP address can tell someone what Internet Service Provider you are using. Go to www.arin.net and type in an IP address. If you have an encrypted router and security software your pretty much protected from hackers.
3. The IP tells who the ISP is. Then you illegally subpoena the ISP by providing the IP address, the time it was active, and requesting the name and physical address of the user. That's what RIAA is doing.
4. You can find the location of an IP, go to ip-adress.com and type the IP in the space click lookup. You cant find much info only the location of the computer(but exact adress) Your computers IP adress changes regulary.