Intellectual Property Rights

Intellectual property refers to creations of the mind: inventions; literary and artistic works; and symbols, names and images used in commerce. Intellectual property rights are like any other property right. They allow creators, or owners, of patents, trademarks or copyrighted works to benefit from their own work or investment in a creation. There are various reasons for promoting and protecting the IPR

  1. The progress and well-being of humanity rest on its capacity to create and invent new works in the areas of technology and culture.
  2. The legal protection of new creations encourages the commitment of additional resources for further innovation.
  3. The promotion and protection of intellectual property spurs economic growth, creates new jobs and industries, and enhances the quality and enjoyment of life.

Intellectual Property Rights try to balance the rights of the creator, producer and distributor with those of the public interest.