INTELLECTUAL PROPERTY RIGHTS: REGULATIONS AND TREND IN INDIA

The Intellectual Property Rights (IPR) were essentially recognized and accepted all over the world due to reasons like to provide incentives to the individuals for new creations, providing due recognition to the creators and inventors, ensuring monetary reward for intellectual property, ensuring the availability of the genuine and original products. Since, India is one of the fastest developing economies and is having diversified industrial back ground with sustainable economic development mantra; it has given utmost importance to research and development. Realizing the importance of inventions, India ratified the agreement with the World Trade Organization (WTO). This Agreement also means that India confirms to the Trade Related Aspects of Intellectual Property Rights (TRIPS). In order to establish it