Why should I go for IPR?
Patenting gives a temporary monopoly to the assignee granting USPs to his products or increasing quality or reducing time or costs for a certain production.  
Further patenting gives "weapons" to the assignee, whenever he is getting affected by a competitor he might use the own patents as equipotential.  Further patents can be used in marketing showing the innovation strength of a product or the company.
Last but not least: patents can be used for licensing (inside the company or to a third party).