Intellectual property rights and economic development

Abstract

Purpose: The main aim of this article is to point out the intellectual property rights in Indonesia and how they can affect the economic development of the country. Desigh/Methodology/Approach: Literate review and related studies are presented to give a better insight of the issue for those who are interesting to work in this discipline. Findings: Brands become very popular, and are often used in the case of publishing either products, through the mass media, such as in newspapers, magazines and tabloids or through the electronic media, such as television and radio and others. With the increased competition in the world of traded goods and services in these days, it is no wonder that a brand has a very significant role, in that it is recognized as a sign of a specific product among the public. It also possesesstrength and benefits when managed well. Practical Implications: Brands have value or equity. And equity is very important because the value of a product will be the measured through the market. The brand is no longer only words that are connected with the product or a collection of goods in the era of free trade, but also a process and business strategy. Originality/Value: Intellectual Property Rights is the exclusive right given to a person or a group of people over their intellectual property such as patents, brands and copyright. Intellectual Property Rights exist in the nature of information, science, technology, art, literature, skills and so on. This study tries to present the issue on a realistic way for the benefit of the people involved.