Intellectual Property Rights (IPR) refer to the legal protections granted to individuals or businesses for their creative and intellectual efforts. These rights safeguard inventions, literary and artistic works, brand names, designs, and trade secrets, ensuring that creators and inventors can benefit from their work.
IPR is essential in promoting innovation, encouraging investment in research and development, and protecting businesses from unauthorized use of their intellectual assets. The main types of IPR include copyrights, patents, trademarks, trade secrets, and industrial designs, each serving a specific purpose in safeguarding different forms of intellectual property.