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Innovation and creativity are both critical factors in the knowledge economy and hence this problem needs to be addressed. In addition, I will address how the rise of information society and knowledge economy has affected the concept of intellectual property rights. I look into how effective intellectual property rights are for enhancing human life in the new economy.
Developed nations have a larger knowledge base, along with recent technology, and therefore more innovation compared to developing countries. Hence, intellectual property rights are more dominant in the developed countries (Persaud, 2001)...
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