A more thorough explanation:

The Paris Industrial Property Convention is also known as the Paris Convention for the Protection of Industrial Property. It is an international agreement that was first signed in Paris, France in 1883. The convention aims to protect intellectual property rights, such as patents, trademarks, and industrial designs, across different countries.

For example, if a company in the United States has a patent for a new invention, the Paris Convention allows them to apply for the same patent in other countries that are also members of the convention. This helps to prevent others from copying or using the invention without permission.

The Paris Industrial Property Convention is important because it promotes innovation and creativity by providing a way for inventors and creators to protect their ideas and inventions. It also helps to create a level playing field for businesses by ensuring that intellectual property rights are respected and enforced across different countries.