A brief review on intellectual property rights with special attention on patent

Intellectual property (IP) is about promoting progress and innovation. Patents, Copyrights, Geographical Indication, Trademarks, Industrial design and Trade secrets are the most common forms of IPRs. Intellectual property rights (IPR) refer to the legal protection accorded to certain inventions or creations of the mind. Intellectual property has increasingly assumed a vital role with the rapid pace of technological, scientific and medical innovation now a day. Intellectual Property Rights (IPRs) are viewed as being of increasing importance in many fields of business. Patents represent a resource for both legal (ownership, inventors, reassignments, claims, etc.) and technology-rich prior art (background, specifications, etc.). Patents are accompanied by detailed textual descriptions of the inventions, and often, by drawings of electrical, mechanical, or chemical structures. Patent is recognition for an invention, which satisfies the criteria of global novelty, non-obviousness, and industrial application. IPR is prerequisite for better identification, planning, commercialization, rendering, and thereby protection of invention or creativity. However, one potential hindrance to their being considered of significant value is the lack of information to the public. Thus, this review paper represents a brief data on the concept of Intellectual property rights.