Intellectual Property Rights ( Ipr )

1413 Words Mar 23rd, 2015 6 Pages
As the era of technology and new innovations allows people to share ideas at a moments notice the need for laws to protect people’s ideas and inventions need to keep up. These laws are called intellectual property rights (IPR) and can include patents, copyrights, trademarks, process design and in some case trade secrets which differ from other types of IPR. This means that a company could create a monopoly on an idea that would give them a right to punish people by law if they copied that idea. For most of these forms of IP such as a patent and trademark require the idea holder to submit their process for creating the idea and documentation proving ones claim, however for copyright according to federal law any original work that is publically produced protects the rights of the creator. This is good for most people because it ensures their work can not be copied but some people who share information with the public actually want it to be free for all to know and use it without someone being able to profit off of it. There have been arguments about the impact of having IPR has had on business and whether or not having these laws leads to innovation or stifles it. This argument states that if IPR are strongly enforced and easily patented then people will feel their inventions will be protected and they will profit fairly off of them. Others argue against this idea that even if there were no IPR people would still invent new music and medications for the good of invention not…
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