An introduction to intellectual property rights and their importance in Indian context

The intellectual property rights (IPR) are intangible in nature and gives exclusive rights to inventor or creator for their valuable invention or creation. In present scenario of globalisation, IPR is the focal point in global trade practices and livelihood across the world. These rights boost the innovative environment by giving recognition and economic benefits to creator or inventor whereas the lack of IPR awareness and its ineffective implementation may hamper the economic, technical and societal developments of nation. Hence dissemination of IPR knowledge and its appropriate implementation is utmost requirement for any nation. The present paper highlights various terms of IPR such as patents, trademarks, industrial designs, geographic indications, copyright, etc with their corresponding rules, regulations, their need and role especially pertaining to Indian context. Further, status of India's participation in IPR related activities across the world has been discussed in brief