Published Paper Details:

Intellectual property rights (IPR) are the legal rights that are granted to individuals or organizations for their creations or inventions. These rights provide for exclusive ownership and control over intangible assets, such as inventions, artistic works, trademarks, trade secrets, and designs. IPR protects the creators or owners of such intangible assets by giving them the ability to make a profit from their innovations and creativity. Several types of IPR such as patents, copyright, trademarks etc. are provided solely. Patents are such rights that grant inventors or creators the ability to prevent others from making, using, or selling their inventions without permission for a limited period of time. Copyrights protect original works of literal, artistic, musical, and drama creations. Trademarks being distinctive signs, symbols, or logos help customers identify and associate certain qualities or characteristics with a particular brand or company. IPR is a requirement for improved innovation or creative work identification, planning, marketing, and protection. Depending upon the area of specialization, each industry has its own IPR policies, management styles, etc. Without IPR businesses would struggle to maintain their creativity and competitive edge and would lose their revenue along with their reputation. With this view, the paper provides a succinct summary of IPR.