Business needs to protect its "assets" from its competitors. Otherwise competition will copy and derive business benefits from its assests.Today business assets have become intangible in nature. In other words, business assets today eiether "ideas" or "idea based" products. Idea-based assets are called " Intellectual" properties.The legal frame work that protects these "intellectual" assets is called " Intellectual Property Rights" or "IPR"
Forms of IPR
- Patents: for protecting inventions
- Copy rights: for protection of publications such as " books" "music"
- Industrial design: for protecting industrials design such as a machine or a tools
- Layout designs- for protectig factory and other layouts
- Circuit layouts- for protecting IC designs
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