A cursory review of intellectual property rights

Abstract

The concept of Intellectual Property Rights (IPR) in the domain of technology has assumed enhanced importance and the subject matter has attracted more interest with time. IPR have been defined as thoughts, developments, and inspired expressions based on which there is a public willingness to bestow the status of property. Strong intellectual property systems can incite funding into knowledge development and, thus, promote innovation. IPR gives exclusive rights to the inventors or creators of the property, in order to enable them to reap commercial benefits from their trademark, etc. patent is an exclusive monopoly grant by the Government of an inventor over his invention for limited period of time. The present review elaborates all aspects of Intellectual property right in detail along with its protection criteria. Some technologies require strong IP protection to commercialize, but unnecessary costs can derail bringing a product to market. IP departments of organizations weigh these various thoughts and perform essential IP protection functions. This primer introduces researchers to the main forms of IP and their legal aspects.