National Intellectual Property Rights (IPR)
Intellectual Property Right (IPR) are private rights recognized within the territory of a country and granted or (conferred upon) individual’s or legal entities in order to protect their creativity or innovation in the industrial, scientific, literary and artistic fields. Intellectual Property Rights provide statutory expression to the economic and moral rights of creators and inventors in their creations and investions. IPRs are conferred for a limited period of time and during this period they prevent others from unauthorized use of those productions. Governments increasingly use IPRs as a policy tool for promoting creativity and innovation.
The emergence of globalization and constant technological changes are steadily transforming our society – making it more knowledge intensive than ever. The industrial landscape too is witnessing a similar evolutionary pattern. Importantly, the capacity to appropriates create, protect, utilize and transfer knowledge assests has become an important determinant of competitive advantage. The rapid development of information technology has connected firms, customers, suppliers and various other stakeholders in a complex and interdependent web of interactions. These developments have resulted in a paradigm shift in the nature and scope of economic progress.