What do you understand by Intellectual Property Rights? Explain.

Intellectual property means 'Ownership of Ideas' which is created by using skills and mental ability of the person. The softwares originally developed by the persons become the intellectual property of the developers.

Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time. These rights can be exercised in the form of software patents, software copyright or trademark.