The document discusses intellectual property rights (IPR). It defines IPR as rights protecting creations of the human intellect, including inventions, artistic works, designs, and symbols/names used in trade. IPR is important for promoting innovation and creativity. The document outlines different types of IPR, including patents, trademarks, copyrights, and designs. It explains the criteria for patent protection, such as an invention being new, inventive, and industrially applicable. The role of IPR in business is also discussed.