ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Intellectual Property Right protects the use of information and ideas that are of commercial. You have the legal right to protect the creations of your intellect, such as inventions, artistic and literary works, designs and symbols, and names and images used in commerce.

Detailed explanation-2: -Intellectual Property Rights (IPRs) protect the use of information and ideas that are of Commercial Value.

Detailed explanation-3: -Inventors, designers, developers and authors can protect the ideas they have developed, for instance by means of copyright or patents. The aim is to prevent others from wrongly profiting from their creations or inventions. It also gives them an opportunity to earn back the money they invested in developing a product.

Detailed explanation-4: -Patents, trademarks, copyrights, and trade secrets are valuable assets of the company and understanding how they work and how they are created is critical to knowing how to protect them.

Detailed explanation-5: -Unfortunately, despite what you may have heard from late night television commercials, there is no effective way to protect an idea with any form of intellectual property protection. Copyrights protect expression and creativity, not innovation. Patents protect inventions.