For entrepreneurs, IP rights are crucial for several reasons:
Protection: IP rights protect innovative products, services, and branding, preventing others from copying or exploiting their ideas. Monetization: IP can be commercialized through licensing or selling, providing revenue streams. Market Advantage: They grant a competitive edge in the market, differentiating a business from its competitors. Investment Attraction: Investors are more likely to invest in businesses with strong IP portfolios as they indicate potential growth and profitability.