Intellectual property rights and entrepreneurship

People have ideas all the time. In business, new ideas can lead to new products and services. They can lead to a better way of doing something. Ideas can come from existing businesses through research and development. For example, Apple, an established technology company, developed the iPod. Ideas generate value to the economy by encouraging people to buy or invest in new developments. Many ideas come from entrepreneurs who go on to start up new businesses. They also inspire competitors to invent new products in order…