THE ROLE OF IPR IN PROMOTING INNOVATION AND CREATIVITY
AUTHOR – SONAL KUMARI, STUDENT AT AMITY UNIVERSITY PATNA
BEST CITATION – SONAL KUMARI, THE ROLE OF IPR IN PROMOTING INNOVATION AND CREATIVITY, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (14) OF 2025, PG. 485-491, APIS – 3920 – 0001 & ISSN – 2583-2344.
Abstract :
This research examines the importance of the Intellectual Property Rights (IPR) Act with regard to protecting innovation and creativity within industries across many different areas. The IPR Act provides a statutory legal framework whereby creators/inventors can have exclusive copyright and patent privileges, which encourage them to develop new products/services, as well as contribute to the economy through job creation, cultural advancement, etc. To assess how well the IPR Act does this, the researcher will evaluate how effective IPR protection has been in stimulating investment toward R&D and examining what effect it has had on different industries, e.g., tech (software; hardware), pharma (drugs), arts (music, films, etc.). As part of this analysis, the researcher will assess the challenges associated with enforcement of IPR – especially concerning digital distribution channels (e.g., torrenting, piracy), as well as examine the need to strike a proper balance between IPR protections vs. access to information. By conducting an exhaustive review of the research conducted thus far and gathering new empirical data, the researcher will provide evidence supporting the need for adequate IPR protections as part of fostering creativity and innovation in the 21st century; therefore, the researcher will also assess the ongoing need for adaptive IPR policies that take into account developments in technology that will support the continued development of innovation in various markets. The conclusion will highlight the continued necessity of the IPR Act as a driver of economic growth and the foundation for a healthy intellectual economy.