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Intellectual Property Rights (IPR) are legal protections given to creators for their inventions, artistic works, designs, and brands. These rights allow the owner to control and profit from their creation, whether it's a product, artwork, or unique idea. IPR includes categories like patents, copyrights, trademarks, and trade secrets. Essentially, it helps individuals and businesses safeguard their innovative ideas and prevent others from using or copying them without permission, ensuring that the original creators receive recognition and financial benefit for their work.