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Why Should The Laws Protect Intellectual Property

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How Intellectual Property Rights Can Protect Intellectual Property
Intellectual property acts as the foundation of innovation in most of states. Government granted rights incentivize creativity and discovery by providing creators with an opportunity to get profit from the value of their innovative work. In exchange, the creative work is made public so that others may also get benefit from the work of the original creator. Laws protecting intellectual property also reduce the transaction costs between inventors and industry by providing information about the quality of the invention without harming the ownership of the idea.
IP rights protect the ownership of not only a tangible objects but also interest in intangible objects, such as the idea behind the invention; the name or logo used to brand a product. It would be difficult for society to prosper and grow without enforcement of these rights in the law. …show more content…

Patent rights are usually enforced in courts that, in most systems, hold the authority to stop patent infringement (WIPO). The other type of IP is basically giving the same kind protection to the invention. The differences are only the duration of the ownership, and the kind of products protected.
In conclusion, intellectual property right is giving preventive and repressive measures for intellectual property. When a creation or invention is registered it will prevent the creation to be imitated. With the development in technology, everything is easily duplicated or imitated. Intellectual property right is not only protecting the creator or owner, but it also protect the consumer from loss that might occur after buying and consuming the imitate products. Repressive measures will give the creator the rights to file a lawsuit to recover any damages done to

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