Having specific laws that govern intellectual property is essential for a variety of reasons. First and foremost, intellectual property laws protect creators and encourage creativity and innovation. Intellectual property law grants people and organizations ownership rights to their ideas and inventions. With these rights, creators and inventors can compose, design, code, and create without the fear of having another party steal and profit from their ideas. Having ownership of their intellectual property financially benefits creators as it allows them to capitalize on their work and protects their ideas from being stolen by a competitor. Also, when another person or organization misuses intellectual property that doesn't belong to them, intellectual property laws give creators the grounds to pursue legal action. When society ensures that creators and inventors can profit from their work, creators produce new ideas and everyone benefits. However, intellectual property ownership rights are usually not permanent and only last for certain amounts of time, depending on the specific law and type of intellectual property.