What are Intellectual Property Rights (IPR)?
Intellectual Property Rights are the rights given to each and every person for the creation of new things according to their minds. IPR usually gives the creator a complete right over the use of his or her creation for a certain period of time.
Intellectual Property Rights are the legal rights that cover the benefits given to individuals who are the owners and inventors of work and have created something unique with their intellectual creativity or capability. Every person related to areas such as literature, music, invention, etc., can be granted such rights, which can then be used in their business practices. The creator or inventor gets complete rights against any misuse or use of work without his or her prior information. However, the rights are issued for a limited period of time to maintain equilibrium.
All the rights linked to intangible assets possessed by an individual or business to safeguard such assets against unlawful use or exploitation are called Intellectual Property Rights. Such rights are granted to the creators of intellectual property so that their creations cannot be used by others without their permission. These include Right to reproduce such work, Right to sell such work, Right to create other forms of such work, etc.
Intellectual Property Rights are used to convey the monopoly of the holder over the usage of the specified property or items for a definite time period. Any violation of these rights attracts severe penalties.
Intellectual Property Rights (IPR) : Need for Legal Protection
Intellectual property rights (IPR) are the legal rights provided to an individual for his or her creation. This is an exclusive right that is being provided to the creator for a certain period. The IPR applies to all kinds of exclusive creations, inventions, artistic works, logos or names used in commerce, etc. Article 27 of the Universal Declaration of Human Rights provides benefits to a creator, author, or inventor by safeguarding their artistic, literary, or scientific creation. The World Intellectual Property Organization (WIPO) first recognized the major importance of IPR during the Berne Convention for the Protection of Literary and Artistic Works (1886) and the Paris Convention for the Protection of Industrial Property (1883).
Geeky Takeaways:
- Copyrights protect the original work of authorship, like literacy, art, music, etc.
- Patents grant exclusive rights for new inventions, typically for a limited period.
- A trademark protects signs, logos, and symbols that are associated with goods or services.
- Design protection covers the visual aspect of a product.
Table of Content
- What are Intellectual Property Rights (IPR)?
- Need for Legal Protection of IPR
- Components of Intellectual Property Rights
- Conclusion
- Intellectual Property Rights: Need for Legal Protection- FAQs
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