Before understanding about Intellectual property rights, you should first know the basics of intellectual property (IP). Intellectual property is defined as the creation of your mind i.e. ideas, innovations, inventions, literary and even artistic works, designs, names etc. in the field of commerce. IP can be seen everywhere around you. The trademarks, trade secrets, films, music and even the shape of a product, everything falls in the category of intellectual rights.
What Is Intellectual Property Rights?
The intellectual property rights are for the protection of your work, reserving rights limited to you only. Having these rights, you can easily financially benefit yourself and earn recognition based on your work. Once you have these rights, no one else can ever be entitled to your work.