INTELLECTUAL PROPERTY RIGHTS: A BIRDS VIEW AND ITS IMPLICATIONS IN INTELLECTUAL PROPERTY

Intellectual property (IP) is a unique set of ideas and creativity developed in the brain of individuals. It is the assets of individuals and nations which has given exclusive rights to inventors or creators in form of intellectual property rights (IPR). These rights are designated by statutes in order to enable them to implemented for public purpose and maintain the reputation of inventor and his investment on invention. There are different forms of IPR that satisfy the criteria of novelty, non-obviousness and utility. Lack of knowledge on intellectual property rights may cause the damage to economic and social development of nation. The present review highlights various forms of IPR and their role, along with related Indian context. Further, the statutes of IPR related activity have been discussed in brief under a single umbrella.