The idea of property has dominated business world for long time and creation and protection of business properties has been a constant concern for business. In the past properties such as machinery, resources were protected by means of physical means and barriers.
Today intellectual properties are becoming more valuable both as revenue generators and wealth creators. Creating new intellectual properties and protecting them is a great concern. Intellectual property rights provide a legal mechanism to identity,own and protect a new class of industrial properties known as intellectual properties
Definition of Intellectual Property: Intellectual properties are defined as those properties created by the application of human intellect.
Examples: music, computer software, new drug formula
Categories of IP: Some of the well known forms of IP include patents, copy rights, trademarks etc.
Importance of IPR: We are living in knowledge era and much of the value is created by the application of ideas. For the survival of a business guarding those value creating properties is an essential.
List of additional resources for further studies
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