IPR are largely territorial rights, except copyright, which is
global in nature in the sense that it is immediately available to
all the members of the Berne Convention. These rights are awarded
by the State and are monopoly rights, implying that no one can use
these rights without the consent of the right holder. It is
important to know that these rights must be renewed from time to
time for keeping them in force, except in the case of copyright and
trade secrets. IPR has a fixed term, except trademark and
geographical indications, which can have an indefinite life
provided that these are renewed after a stipulated time specified
in the law by paying official fees. Trade secrets also have an
infinite life, but they do not have to be renewed. IPR can be
assigned, gifted, sold, and licensed like any other property.
Unlike other moveable and immoveable properties, these rights can
be simultaneously held in many countries at the same time. These
rights, especially patents,
