This chapter examines the system of intellectual property rights (IPR) in Brazil and its impact on industrial technology development. It argues that the incentive structure for the acquisition of technological capabilities is fundamentally related to the overall economic environment and the prevailing competition policy regime. The chapter describes the system of intellectual property rights in Brazil, including the patent, copyright, trademark, and trade secret regimes. It also examines the impact of IPR on industrial technology development in Brazil and the connection between the property rights regime and direct foreign investment and arms-length technology transactions. The chapter suggests that steps to close the gaps in IPR protection, while stressing the importance of changes in other policy areas to improve the structure of incentives and strengthen the technological capabilities of Brazilian industry. It concludes that suggesting directions for research in assessing the relationship between IPR protection and technology development.