State the meaning of the
intellectual property rights and Enterpernurship Also explain the relation between them?
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Intellectual property (IP) rights provide entrepreneurs with many benefits: IP rights provide protection against a competitor directly copying the idea. This helps the entrepreneur to recover their costs in developing the idea. IP rights help businesses maintain their long-term competitive edge.
Answer:
intellectual property Right is a term which is generally used for having the monopody rights over the technology or assets patent licence and copyright and trademarks . Entrepreneurship means a process of developing a new business by the person with a view of earning a profits and bearing the risk in it. Entrepreneurship is related to the innovation.
Explanation:
intellectual property Right is a term which is generally used for having the monopody rights over the technology or assets patent licence and copyright and trademarks.
Entrepreneurship means a process of developing a new business by the person with a view of earning a profits and bearing the risk in it. Entrepreneurship is related to the innovation.
Relation between the Intellectual property Rights and Entrepreneurship are as follows :
Intellectual property rights helps the business in protecting their idea from copying by other businesses in the country.
It provides the entrepreneurs woth a long tern competitive edge over the other businesses. As , registered Property rights gives the benefit that all financial benefits from their idea will go to in their hands only.
Registered Intellectual property rights help the entrepreneur to win the confidence of the public.
Registered Intellectual property rights help the entrepreneurs to expand their business with ease as they can franchise the idea without any legal formallities.
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