Human intellect is the most important resource and intellectual property rights seek to protect innovation. “The object of intellectual property law is to confer protection to the products of human creativity that meet the three-fold test of innovation, non-obviousness and usefulness. Hence, intellectual property rights (IPR) are rights that ensure that the inventor or author reserves the rights of the utility of his/ her product. The term IPR broadly includes patents which confer rights over an invention, copyright that pertains to rights over an original literary work, and trademark that regulates the distinctive indicator unique to an organisation or an individual in business. Industrial design that caters to protection of any innovative design, semiconductor integrated circuits and layout design, protection of plant varieties and farmer’s rights and trade secrets which are protected by judicial decisions for the lack of a statutory provision too come under the purview of IPR.
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