Question

Write short note on Evolution of IPRs.

Answer 1

The main purpose of intellectual property law is to encourage the creation of a large 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. This gives economic incentive for their creation, because it allows people to profit from the information and intellectual goods they create. These economic incentives are expected to stimulate innovation and contribute to the technological progress of countries, which depends on the extent of protection granted to innovators