Final answer:
Intellectual property rights provide legal protection for unique products and processes, including registered trademarks, patents, and copyrights, ensuring firms' brand protection and market advantage.
Step-by-step explanation:
The intellectual property rights are vital in providing legal protection for unique features or aspects of products. Options such as retaining intellectual property rights, being protected through registered trademarks, having manufacturing processes protected through patents, and producing packaging through copyright and designs are all ways a firm can protect its investment and safeguard its brand.
Patents give the inventor the exclusive right to make, use, or sell an invention for typically up to 20 years, offering a competitive advantage and promoting research and development. Copyrights, on the other hand, protect the author's original works of literature, music, film/video, and pictures, often lasting the lifetime of the author plus several decades.
Countries worldwide enforce various laws to protect intellectual property, although the duration and specific regulations may differ. The World Intellectual Property Organization (WIPO) along with international treaties work towards harmonizing these laws globally. This ensures that the extent of protection, including patents and copyrights, is respected across different nations.
Therefore the correct answer is 1) Retain intellectual property rights.