Intellectual property refers to the creation of one's own mind which includes inventions, literary and artistic works, design and symbols invented on own or for the first time. They could also be the names and images used in commerce and trade.
It is important to protect the fostering or duplicate of the innovation. Without the protection of ideas, business and individuals associated with the property may not reap any benefits or get some death threats or the social threats.
Intellectual property are important to encompass and generate long term revenues and goodwill of the organisation. It also increase shareholders value with the face value of shares.
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