a. Intellectual property rights are law provided rights for protection of one’s original created or invented work. The similarities are that all types of intellectual properties have validity for a certain period of time and they protect similar things. The purpose of creating intellectual properties is to protect works of people. There are various types of intellectual properties like, patents, trademarks and copyrights all used for very different purposes though they may be used on a similar product. Copyrights protect literature, art and music. The work does not need registration but it allows the owner to protect his work. Trademarks protect phrases, names, logos and slogans. They need to be renewed every 10 years. Patents protect any inventions. The validity for their protection is around 20 years.
b. The intellectual properties protect things against a number of things ranging from inappropriate use to unauthorized use. The purpose of using intellectual properties is to protect the work of any individual or a company. For an economy it is essential to provide intellectual property rights protection in growing fields and it should be used and encouraged in areas as employments, research and innovation.
c. Intellectual property consist various types such as patents, copyrights, trade secrets and trademarks. Violating any intellectual properties can result in heavy payments of fines and a long period of prison. It is important for a company to use intellectual property rights to protect its data from getting hacked. Before giving registration to anyone for intellectual property rights they must ensure that the work is worth providing protection and is original in nature. They must build strong base for protecting intellectual properties misusing or interpreting them has proved to be easy. Government should make policies or rules concerning the protection of intellectual properties and provide strong punishments for violating them.
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