Intellectual Property Rights-innovations

Intellectual Property Rights(IPR) is a set of rights that are given to an individual for a creation of products that are of human intellect. The Intellectual Property Rights includes, patent, copyright and trademarks. The purpose of developing IPR is to encourage a wide variety of innovative and creative products that are required in this society. Advancements in an already existing property cannot be considered as an intellectual property but the mechanism can be patented easily. The process works by identifying the intellectual property and are made to review by the review committee and once it gets cleared, the products are only selected by such reviewing process in order to be considered as an intellectual product.  

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