Intellectual Property Rights (IPR) refer to the legal rights granted to creators and owners of intellectual property, such as:

1. Patents (inventions and innovations)
2. Copyrights (literary, musical, and artistic works)
3. Trademarks (brand names, logos, and symbols)
4. Trade secrets (confidential business information)
5. Industrial designs (product designs and appearances)

IPR aims to:

1. Encourage innovation and creativity
2. Protect original works and ideas
3. Promote economic growth and development
4. Prevent unauthorized use or theft of intellectual property

Key aspects of IPR include:

1. Exclusive rights: Owners have control over their intellectual property.
2. Territoriality: IPR protection varies by country.
3. Time limitations: IPR protection has a limited term (e.g., patents expire after 20 years).
4. Enforcement: Owners can take legal action against infringement.

Understanding IPR is essential for:

1. Creators and innovators to protect their work
2. Businesses to navigate licensing and collaboration
3. Consumers to respect intellectual property boundaries