What is intellectual property? Why should I protect it?

Whenever a new product enters the market and is successful in attracting customers, it is very likely that competitors will sooner or later attempt to make similar or identical products. In some cases, competitors will benefit from economies of scale, greater market access, better connections with the main distributors or access to cheaper primary resources, and therefore be able to make a similar or identical product at a cheaper price, putting heavy pressure on the innovator of the original product or service. On occasion, this will drive the original innovator out of business, especially as it is likely to have invested significantly in developing the new product, while its competitors benefit from the result and get a free ride on the creativity and inventiveness of the innovator.

Sustainable Development Goals:

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions