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Abstract
Intellectual property (IP) is property which has been created through the use of the mind and imagination, the purpose of an intellectual property law (IPL) is to assign legal rights to creative works and inventions and controls who get to use such works. Intellectual property rights (IPR’s) enable people to earn recognition and/or economic benefit from what they invent or create. Such creations of the mind need to be protected to limit the un-licensed, illegal and immoral use of such property. A well designed and efficient IPR protection and enforcement system is crucial for economic growth because it allows businesses to recoup from their investments in innovation and industry. The economy thrives when businesses compete to create solutions and innovations in response to consumer demand and feedback. A critical factor in maximizing the value of the creativity and innovation is a clear legal and regulatory system thatrecognizes the importance intellectual property (IP) and establishes and protects the property rights of the creators, inventors and innovators.
