Economics Protectionism Questions
The role of intellectual property rights in protectionism is to protect and promote the interests of domestic industries and businesses by granting exclusive rights to the creators or owners of intellectual property, such as patents, copyrights, and trademarks. These rights prevent unauthorized use, reproduction, or distribution of intellectual property, thereby giving domestic industries a competitive advantage and encouraging innovation and creativity within the country. Intellectual property rights can be used as a tool for protectionist policies, as they can restrict foreign competition, limit imports, and promote domestic industries by creating barriers to entry for foreign firms.