Intellectual property rights in India: Legal analysis, status and strategies

Intellectual property is the creation of human mind and human intellect. This is why this kind of property is called “Intellectual” property. Intellectual property is created by incorporating information in tangible objects capable of multiplying in unlimited number of times at different locations anywhere in the world. The property is basically in the concept, idea, and thought and thereafter is the actual product, work or process, etc. The World Intellectual Property Organization (WIPO) provides further clarification on what exactly should be the nature of Intellectual Property. According to WIPO, the Intellectual Property includes rights relating to inventions in all fields of human endeavors, scientific discoveries and industrial designs. It also contains trademarks, service marks and commercial names and designations, literary, artistic and scientific works and performance of artists, phonograms and alike. Further, the protection against unfair competition and all other rights resulting from intellectual activity in the industrial scientific, literary or artistic fields have been aptly given space in the domain of intellectual property.