Question

Complete the following in 4 to 6 sentences: First, list two intellectual property rights. Then, describe why an intellectual property right provides incentives for people to produce creative work.

Answer 1

There are two intellectual property rights: Industrial Property and Copyright. Industrial property are the trademarks, patents for inventions, and industrial designs. A copyright encompasses works in literature, art, film, architecture, and music. This also includes rights to copyright for artists’ performances, producers of recordings, and/or television programs.

Having a copyright provides opportunity of creating value and income for people whose means of living are through the above mentioned works.