6. Will Intellectual Property Help My Business?

Businesses create, protect and commercially exploit intellectual property. Tangible properties, like buildings, machines, etc. are secondary in importance to patents, copyright, design, trade secrets and trademarks. These are all different branches of intellectual property rights (IPRs). It is said that the American economy gained its strength as the patent law that gave tremendous protection to inventions. The electric bulb, telephone and many other inventions became accessible to the masses due to protection given by the patent law. The inventor is sure that he would get his due during the term of the patent and, therefore, puts in a lot of effort to make it better and better. The same applies to copyright, trademarks and other form of intellectual property.