In this paper, we introduce and study families of squarefree monomial ideals called clique ideals and independence ideals that can be associated to a finite graph. A family of clique ideals with linear resolutions has been characterized. Moreover some families of graphs for which the quotient ring of their clique ideal is Cohen-Macaulay are introduced and some homological invariants of the clique ideal of a graph $G$ which is the complement of a path graph or a cycle graph, are obtained. Also some algebraic properties of the independence ideal of path graphs, cycle graphs and chordal graphs are studied.
