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Intangible Works Of Art Are Referred To As Intellectual Property. They Could Be Creations, Works Of Literature Or Art, Logos, Designs, Symbols, And The Like. For A Restricted Time, The Owner Of An Intellectual Property Right Has The Only Right. Let's Take An Example Where You Have Created A New Type Of Phone And You Receive A Patent For The Technology Used In It. You Now Own The Intellectual Property For Technology. It Is Yours. You Therefore Possess The Sole Authority To Prevent Third Parties From Using And Profitably Exploiting The Technology For The Next 20 Years. It Indicates That No One Else Is Permitted To Use The Technology You Have Patented Without Your Consent. Why Is Intellectual Property Protected? Motivator Encouraging People To Invent Is The Main Goal Of Intellectual Property Protection . It Facilitates Both Economic Growth And The Production Of Intellectual Goods And Services For The Public Benefit. Humans Are Predisposed To Operate In Reward-Based Systems. Therefore...