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Intellectual Property (IP) refers to property created with the use of intellect. In other words, this refers to creation of mind. These are rights given to person over creation of their minds. They usually give the creator an exclusive right over use of his or her relation for certain period of time. Intellectual property differs from other form of properties as it does not have any physical shape and can be seen. Protection of Intellectual property is done by offering time limited rights to investor in form of patents.
Intellectual property laws vary from jurisdiction to jurisdiction, such that the acquisition, registration or enforcement of IP rights must be pursued or obtained separately in each territory of interest. However, these laws are becoming increasingly harmonized through the effects of international treaties such as the 1994 World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs), while other treaties may facilitate registration in more than one jurisdiction at a time. Certain forms of IP rights do not require registration in order to be enforced. There are various forms of IP like Copyrights and related rights, Trade Marks, Geographical Indications, Industrial Designs, Lay out Designs of Integrated Circuits, Protection of Undisclosed Information (Trade Secrets), Patents, Plant varieties.
Dr. Rahul Taneja