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One area in which there is little overlap is style. While not everyone will admit it, looks are important when buying any item and particularly when buying a laptop. After all, you'll be looking at this thing every single day for the next few years, so it would be best if it didn't hurt your eyes.
The Thinkpad is full of simple matte black designs and has been forever. Even dinosaurs used the same black slabs on business trips. That isn't to say that Thinkpad products are ugly, however. Their simple design is attractive to people who are turned off by the recent assault of neon-colored products with lid patterns and other such nonsense. The only exception is the recent Thinkpad Edge.
The Ideapad line, on the other hand, embraces said nonsense. The Ideapad products are colorful, shiny, and attractive. Both the U and Y series Ideapad notebooks come in various colors and some include other style enhancements like textured lids.