IGNOU MIP 108 2018 - Explain the economic nature of IPR goods. Differentiate between invent

Question

Explain the economic nature of IPR goods. Differentiate between invention and innovation.

12 Feb 2018

Answer :

Word Count : 335

The main purpose of intellectual property law is to encourage the creation of a wide variety of intellectual goods. To achieve this, the law gives people and businesses property rights to the information and intellectual goods they create, usually for a limited period of time. Because they can then profit from them, this gives economic incentive for their creation

The intangible nature of intellectual property presents difficulties when compared with traditional property like land or goods. Unlike traditional property, intellectual

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