With reference to Intellectual Property Right, which of the following statements is correct?
(1) It is a legal right that protects creations and inventions.
(2) It includes patents, copyrights and trade marks.
Select the correct answer from the options given below:

A. (1) Only

B. (2) Only

C. Both (1) and (2)

D. Neither (1) nor (2)

Answer: Option C