What is there for to rejoice if you have the intellectual property on something? Would it be a great instrument to the economic growth of the country? Or you are just the sole beneficiary of the fruits you have reaped from what you have sowed? Explain.

If I have a very useful intellectual property on something then yes it would a great instrument for the growth of the economy of the country for it is a great valuable economic asset and one the great factors for economic growth and development.  Also at the same time I have my benefits for I can recover the R&D cost and investments by offering an exclusive rights for a limited period.