All the above are items that describe potential benefits of providing intellectual property rights apart from more piracy opportunities.
There are many advantages of intellectual property (IP) that businesses should be mindful of. IP rights protect your company’s inventions and concepts which are crucial to maintaining your brand. One of the advantages of IP is that it enhances export opportunities for your business and increases competitiveness in export markets. IP’s trade secret is beneficial and its rules promote adaptive innovations and encourage learning through the right means. Strong systems put together for the protection of IP could limit or enhance economic growth. Nevertheless, strong IP could very well increase economic growth, thereby improving development prospects.