Role of Intellectual Property Rights in Economic Development and need for its Protection

Every country and every person on the planet wants to flourish in terms of economy. There are a number of methods for this but a question which arises here is that can the intellectual property can become one of the ways to achieve it? If yes then how far the intellectual property rights facilitate the development of the economy is a big question and if no then why not does the Intellectual Property can contribute to it. Something which makes a person economically stronger one will obviously want protection for it, but what will happen if they are not protected. And in all this one important question arises what is the impact of the intellectual property rights on the economic development. The answer to all these questions can be obtained by going through the article.