Intellectual Rights (IP Rights) refers to creations of mind such as Inventions, Literary work, Designs and symbols, Artistic Work, names and images used in commerce.
For its protection different laws/Act has been instituted such as Patent Act, Trademark Act, Designs Act, Copyrights Act, which enables people to earn financial benefit from what they invent or create. IP rights aims to foster an environment in which creativity and innovation can flourish.