Intellectual property can be a powerful tool for growth and progress, if properly managed. To fulfill its potential, intellectual property protection has to be supported by appropriate policies and a deep commitment by governments to establish an effective infrastructure to process and make use of intellectual property rights.
Intellectual property stimulates progress, transforming society and adding value to our lives. Intellectual property will play an ever more important role on the international stage.
Why Legal Protection For Intellectual Property?
Every human endeavour, which promotes economic, social, scientific and cultural development of society, must be encouraged and the creator must be suitably rewarded by affording legal protection to his intellectual creation. Thus, the Intellectual Property Rights are the legal rights governing the use of creations of human mind.
The intellectual property law regulates the creation, use and exploitation of mental or creative labour. It prevents third parties from becoming unjustly enriched by reaping what they have not sown. This is a branch of the law which protects some of the finer manifestations of human achievement.