IP Rights (Intellectual Property Rights)

Intellectual Property Rights (IPR) are legal protections for creations of the mind, such as inventions, artistic works, symbols, and designs. These rights allow creators to control how their work is used, ensuring they benefit financially and retain ownership. Common forms of IPR include copyrights (for artistic works), patents (for inventions), trademarks (for branding), and trade secrets (for confidential business information). By safeguarding these ideas and creations, IPR encourages innovation and creativity, helping individuals and businesses thrive while also promoting fair competition in the marketplace.