Define Intellectual Property

Question 1

Intellectual property (IP)

Answer 1

includes intangible creations of the human mind

Question 2

Intellectual property rights

Answer 2

specific legal rights which protect the owners of intellectual property

Question 3

The main purpose of intellectual property law is

Answer 3

to encourage the creation of a wide variety of intellectual goods.

Question 4

Benefits of having intellectual property law

Answer 4

gives people economic incentive for their creation and hence stimulate innovation and contribute to the technological progress of countries