Intellectual Property Rights (IPR) in the Blockchain Era

Intellectual Property Rights

The legislation around the intellectual property has developed along with technological advancement. A digital economy has emerged as a result of people using computers and communication technologies more often. The type of items, how they are created, and how they are distributed are all changing as a result of the new economy. The unique characteristics of the digital medium have given birth to complex legal problems. Intellectual property rights (IPR) are now understood to be a crucial weapon for achieving economic domination (Kumar, 2016). IPRs are characterized as legal rights deriving from intellectual pursuit in science, industry, literature, and art forms. Such protections offer time-limited management rights. the use of the intellectual property to protect its inventors and other producers. similar to other protected IP rights. Similar to other types of assets, protected intellectual property rights can be traded and owned, sold, or purchased. These are non-exhausted, immaterial forms of usage (Rao, 2001).

IPRs provide producers legal rights for one’s original creations, inventions, or merchandise aesthetics, creative creations, scientific advancements, and so forth (Sasikala, 2017). Intellectual property rights are therefore a typical kind of legal IP protection for inventors. The world has benefited much from these rights, especially economically (Singh, 2008)