IPR stands for Intellectual Property Rights. It refers to legal rights granted to individuals or organizations for the protection of their intellectual creations or innovations. These rights safeguard a wide range of intangible assets such as inventions, designs, works of literature, artistic creations, trademarks, and trade secrets.
The purpose of IPR is to provide exclusive ownership and control over these intangible assets, preventing others from using, copying, or profiting from them without permission. It serves as a means to encourage innovation and creativity by granting creators and inventors the right to benefit from their original works, inventions, or designs.
There are various types of IPR, including copyright, patent, trademark, trade secret, and industrial design rights. Copyright grants exclusive rights to authors and creators of original works of literature, art, music, or software. Patents protect new inventions and grant inventors exclusive rights to use and sell their creations. Trademarks identify goods and services, distinguishing them from those of other businesses. Trade secrets safeguard valuable business information not generally known to the public, while industrial design rights protect the visual and aesthetic appearance of products.
IPR can be enforced through legal actions, allowing rights holders to seek damages or injunctions against those who violate their rights. International agreements and conventions have been established to promote and protect IPR globally, providing a framework for harmonized intellectual property laws and regulations across different countries.
