Affiliation:
1. Sharda University, India
2. Dublin City University, Ireland
Abstract
Intellectual property stands as the fundamental safeguard for intangible assets that propel our economies and mold our societies. Ranging from patents and copyrights to trademarks and trade secrets, intellectual property functions as a catalyst for fostering growth, empowerment and societal advancement. The strong and enforceable intellectual property (IP) rights such as those pertaining to patents, copyrights, geographic markers, trademarks and trade secrets form the basis of this process. These rights are essential for protecting the products of invention and creativity and for giving people and companies the ability to profit from their efforts. The assurance that innovative ideas and creations will be safeguarded incentivizes businesses to invest in research and development, resulting in the emergence of novel products, services, and technologies. The chapter explores the significance of intellectual property protection in light of the expansion and competitiveness of the world economy.
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