@property (nonatomic, copy) NSString* name;
is better, as NSString is immutable and it's child class NSMutableString is mutable.
As long as you are using NSString through out, you won't see any difference. But when you start using NSMutableString, things can get little dicey.
NSMutableString *department = [[NSMutableString alloc] initWithString:@"Maths"];
Person *p1 = [Person new];
p1.department = department;
//Here If I play with department then it's not going to affect p1 as the property was copy
//e.g.
[department appendString:@"You're in English dept."];
Had it been just retain it would have changed the department of the p1.
So having copy is prefered in this case.