Intellectual Property Rights (IPR): Nature, Scope Type and its Importance: An Overview

The creative expressions, ideas and inventions of human minds have been termed Intellectual property. Intellectual property rights assign certain exclusive rights to the creators or inventors of that property, to enable them to procure all types of benefits from their intellectual efforts as well as for protection of novelty. The Intellectual properties also offer reputation to creators or inventors. The Intellectual property protections are of several types like Geographical Indication, Copyright, Patent, Trademark, Industrial Design, Plant variety protection etc. The Intellectual properties protection is crucial because it is beneficial to the well-beings and progress of humanity on its capacity for novel creations in the areas of various technologies. Also avails the legal protection to these novel creations which encourages the expenses of accessory resources, it also encourage further development or modification in innovation or invent new innovation. In addition to all these the protection of intellectual property right of creators or inventor’ encourage economic growth, establish new starts-up industries which lead to creates new jobs. These rights of intellectual properties are protective safeguard to intellectual goods and services of inventor and creators and other producers by allowing them certain time-dependant rights to control their invention. After establishment of World trade organization and introduction of Agreement to Member Nations on Trade-Related Aspects of Intellectual Property Rights protection to intellectual property is a crucial factor of economic growth in worldwide. The present article discusses about Intellectual property rights nature, Scope type and its Importance