Intellectual Property Rights

Abstract

Intellectual property rights (IPRs) denote distinct types of conceptions of the mind for which property rights are documented. Basic and clinical scientists at research institutions often make ideas that have health benefits if developed and applied to the improvement of human wellbeing. Therefore, learning the basics of intellectual property protection and obtaining professional guidance in its management avoids such losses with a minimal burden of confidentiality on the investigator by using any of the mechanisms (patents, trademarks, copyrights, trade secrets, and know-how agreements). The probability of scientific findings becoming accessible for public benefit is low without suitable intellectual property protection. This reality is particularly true in the life sciences and biotechnology arenas comparative to other areas of science, and hence, it is a prerequisite to know about intellectual property rights and their significance for better development.