In a knowledge-based economy, intellectual property plays a vital role in fostering innovation, creativity, and economic growth. Intellectual property rights (IPR) are legal rights that protect the creation of the human intellect, providing creators, inventors, and innovators with exclusive rights over their creations /inventions. Through these rights creators/inventors are incentivized for their time, effort, and resources into developing new ideas, products, and services.

1 Types of Intellectual Property Rights (IPR) View