IPRs are rights that pertain to creations of the human mind. Individuals, corporations, or other entities may claim them. IPRs typically give the owner of the IP the exclusive right to control use of the creation for a certain period of time. Laws governing IPRs are intended to stimulate innovation and creativity, ensure fair competition, and protect consumers.
IPRs include the following:
- Copyrights and related rights
- Trademarks (including geographical indications)
- Patents
- Industrial designs, integrated circuit designs and plant varieties
- Trade secrets
Importance of IP Protection to Small Business
Recent reports, such as those showing that small businesses now produce 13 to 14 times more patents per employee than large companies, demonstrate the critical role that small businesses play in innovation and the success of the U.S. economy. Protecting the IP associated with their innovations is critical to small businesses on a number of levels. IP can enable a small business to:.....
