Intellectual property is crucial for businesses because it protects creative assets in the forms of innovation and development. Whether you are an individual in the process of building your personal brand or an organization looking to secure its brand image, IPR safeguards your most valuable assets: your own ideas and creations. Having intellectual property rights can provide a competitive edge, help in brand building, and generate a significant source of revenue through licensing or sales. It also promotes the export of products through licensing and patents.