Legal safeguards known as intellectual property rights (IPR) give producers, inventors, and companies the only right to use their original concepts, inventions, artistic creations, and brand names. These rights are crucial for protecting the uniqueness and originality of intellectual property, guaranteeing that owners may profit completely from their works without worrying about infringement, replication, or illegal use. IPR is essential for boosting economic growth and giving companies a competitive edge in the market since it encourages innovation and creativity.