Protection and Promotion of Intellectual Property Rights (IPR) for Economic Competitiveness and Growth

Abstract

The intellectual property they possess of an innovative technological invention that they have created is the only thing that matters to certain small businesses. IPR has genuinely grown as an “intellectual currency,” aiding in the advancement of global economic development, corporate prosperity, and creativity. In many fields of technology, intelligence, and culture, governments around the world are searching for ways to develop their economies, assist their people, and create national capabilities. This chapter discusses and describes the importance of intellectual property (IP) rights in achieving these vital objectives. This chapter will also offer an empirical summary of how a successful intellectual property rights regime can support or impede economic growth (IPRS).