- Intellectual Property Rights (IPRs) are legal rights that protect creations and/or inventions resulting from intellectual activity in the industrial, scientific, literary or artistic fields.
12th October 2021
12:30 pm
Intellectual Property Rights (IPRs) are legal rights that protect creations and/or
inventions resulting from intellectual activity in the industrial, scientific, literary or artistic
fields. The most common IPRs include patents, copyrights, marks and trade secrets.
Intellectual property is owned and legally protected by a company from outside use or
implementation without consent.
- Intellectual Property (IP) systems can be critical in helping new ventures transform their innovation potential and creativity into market value and competitiveness.
- Provide incentives to invest in R&D and innovation, and can encourage technology co-operation with firms, universities and PRIs.
- Patents, trademarks, copyrights can help in protecting the entrepreneurs and gaining
competitive advantage also helps in generating money by issuing license, commercialization and sale of the Intellectual Property.
- Effective IP systems can facilitate access to finance and the development of markets for technology, both of which help innovative entrepreneurship.
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