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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Q 1. What are some of the reasons that intellectual property requires different legal protections than tangible or real property?2. How are valid and enforceable contracts important to the creation and protection of intellectual property? What might some of these contracts include?3. How do contracts impact your business and personal lives and the why are the elements necessary for contract formation in place?4. Essential elements of Contract

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Some reasons as to why intellectual property requires different legal protections rather than any tangible or real property is as follows: ? Security of the intellectual assets will always support the business entity keeping itself separate from the competitors. Henceforth, if we do not safeguard the intellectual property then I would suggest that competitors would be liable in copying the intangible rights which may ultimately result into huge economic loss for business.