What Are Intellectual Property Rights (IPR)?
Intellectual property rights is the area of law that protects intellectual creations. One specific type of intellectual property is sought in the field of patent law and it's generally accepted that a patent grants its holder the sole right to sell, use or exploit an invention for a period of time. However patents are just one subcategory of intellectual property laws. In general, an intellectual property holds the power to make money off an idea or product.
What are Intellectual Property Rights (IPR)? Intellectual Property Rights (IPR) are legal protections for ideas, inventions, and other forms of intellectual property. IPR can be broken down into two main categories: patent and copyright. Patent protection gives inventors the right to exclude others from making, using, selling, or trading their invention for a set period of time. Copyright protection gives creators the right to control how their work is used and distributed.
How are they granted? Intellectual property rights are granted by law to creators of new works of intellectual property, such as patents, copyrights, and trademarks. These rights allow the creator to control how their work is used, making it possible to earn a profit from its use. The process by which intellectual property rights are granted varies depending on the type of work involved. For example, copyright protection is granted by law to original literary, musical, and artistic works, while patents are given to new inventions. The process of obtaining these rights may also vary depending on the country in which the work is created.