There are basically 3 theories which justify Intellectual Property Rights:

Labour Theory: Property right is a natural right. A person has a right to own the creation of his thoughts in the identical way he owns advent of his labour. While someone is deprived of what he has created he will become. At the start, everything become commonplace but with the aid of the use of labour /mind it has grown to be non-public. We need to defend any individual’s labour because it's a natural right. So, it could take to finish those intellectual belongings rights are natural rights. The trouble is that natural right theory or the labour theory doesn’t deal with the temporal trouble of intellectual property rights. It is real that temporal issue is relevant to highbrow assets. Intellectual property is maximum of the time confined in time as to the safety accorded by using regulation. This idea may be justifiable for corporeal ownership wherein its life may be for indefinite time period. In intellectual assets, but, after lapse of a certain time the work may be part of the public domain. Not anything can be called with more prosperity guy’s belongings than the end result of his labour. the assets in any article or purpose of his own mechanical labour is in no way denied him; the hard work of his thoughts isn't any less worth of the protection of the regulation. A person has natural proper to the end result of her labour and that this ought to be recognized as her property, whether in tangible or intangible term.

Personality theory: Intellectual property rights are important to create personal self-declaration. As propounded via Hegel, a person could be more self-assertive while she/he owns assets. He will feel extra equal (equality). He may be freer. It's miles believed that the work is the non-public expression of the writer’s or the inventor’s thoughts. So he must be given the proper to decide while and how his work can be produced or completed in public, and the right to prevent mutilations and modifications. Highbrow property legal guidelines are to be there to shield the author’s or the inventor’s manifestation of his persona. That is additionally subsidized by the need for the safeguarding of the individual’s freedom of expression.

Utilitarian theory: What do Intellectual property rights do? They make the public accurate a private, a non rivalorous - rivalorous and the non-distinctive - distinctive, and the non-scarce - scarce which aren't scarce by using nature. The legal guidelines create artificial scarcity of expertise. That is because creators do now not have the essential incentive except they have got accorded some way to govern their knowledge. Until this is done, they lack the essential monetary incentive. This is referred to as utilitarian concept of highbrow property. Utilitarian is organization socially beneficial. It states that we've intellectual property structures because it has the effect at the betterment /financial/ of the society. Its correctness is to be assessed in the monetary fulfilment of the countries. So, it is greater of an economic issue. We’ve witnessed first-rate technological advancements each within the science and the arts.  The query is: would it not be possible without intellectual belongings systems? In line with this idea, you do something due to the fact you will get something. Why should we care approximately creations of society? Society ought to care approximately its creators because the remaining beneficiary is the society itself due to the fact they provide approach to technical issues.