Intellectual Property
Intellectual Property Rights is a subject, which has grown enormously in recent years in India with India signing GATT (General Agreement on Trade and Tariff) and TRIPS (Trade Related Aspects of Intellectual Property Rights) and becoming member of WTO (World Trade Organization). Intellectual Property is a creation of human intellect. In our everyday life we are surrounded by the fruits of human creativity and inventions, starting from an alarm clock that annoys us in the morning to interesting novels that make us dream at night. Intellectual Property forms an integral part of our life.

Intellectual Property shares many of the same characteristics associated with real property. For example, Intellectual Property is an asset and as such it can be bought, sold, licensed or exchanged. Further the Intellectual Property owner has the right to prevent the unauthorized use of or sale of the property. The main difference between Intellectual Property and other forms of property is that Intellectual Property is intangible but at the same time it has tangible expression.

In simple terms Intellectual Property is a product of human intellect, skill and labour.

Intellectual Property Rights (IPR)
IPR are the rights given to people over the creation of their mind. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time. During this period IPR can be used, sold, licensed or even abandoned like any other more tangible assets. Intellectual Property Rights serve to protect inventions, business name, creativity and inventiveness.

Forms of Intellectual Property
Patent is an exclusive right granted for an invention. A patent is granted to a person who has invented a new and useful article or a new process of making an article or has improved an existing article. In short, patents protect designs, which provide functional solutions to problems.

Copyright relates to original literary, dramatic, musical or artistic works, cinematograph films and sound recordings. Copyright is a proprietary right and comes into existence as soon as the work is created.

Design is an idea as to features of shape, configuration, pattern or ornament applied to an article. Such design forms a branch of Intellectual Property. It refers to the non-functional appearance of the product, which appeals solely to the eyes.

	Trademark is a visual form of a word, a devise or a label applied to an article of manufacture or commerce with a view to indicate to the purchasing members of the
society about the origin of the manufacture of goods affixed with that mark. It distinguishes such goods from the goods manufactured by others in the trade.

Geographical Indications is a new concept. It is an indication used to identify the goods, whether natural or manufactured goods emanating from a particular area or territory known for particular quality or characteristics of the goods.

Layout Design of Integrated Circuits is another new concept, which has been introduced in the field of Intellectual Property. Integrated circuits are utilized in a wide range of products starting from computers to articles of everyday use, such as watches, television sets, washing machine, automobiles, etc.

New Plant Varieties : The creation of New Plant Varieties and their use is a matter of great public interest. Creation of such varieties has become possible by scientific research. To encourage the creative efforts the organization or an individual producing such varietes should be rewarded either by granting them patent or by an effective sui generis system.