Iran’s Intellectual Property Market inaugurated

 Iran’s Intellectual Property Market was inaugurated on Sunday at the Tehran Over-The-Counter Stock Exchange, also known as Farabourse.

Intellectual property rights are the legally recognized exclusive rights to creations of the mind. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs.
Common types of intellectual property rights include patents, copyright, industrial design rights, and trademarks.

As the first transaction at the Intellectual Property Market, the patent of an invention related to the car industry was sold at 2 billion rials (about $80,000).

The stated objective of the Intellectual Property Market is to promote the economy of resistance, which has been proposed by the Supreme Leader, according to the Mehr News Agency.

In a decree issued on February 19, Ayatollah Khamenei outlined the general policies of the country’s resistance economy, according to which the government must take action to expand the production and exportation of knowledge-based products, increase domestic production of strategic goods, and develop markets in neighboring countries.

In a meeting with Iranian laborers in April 2013, Ayatollah Khamenei described the constant change of economic policies, reliance on inexpert opinions, and trust in the imposed economic theories of the West and the East as harmful.