Intellectual Property law protects the intellectual property rights of its owner. Thus, Intellectual property rights like any other rights give the creator or inventor a security and a way of earning for its work or inventor.
Intellectual property has its root back in 15th Century in Italy over its artistic work. Though the first Intellectual property law came into existence in Vietnam in the year 1474. In India, Intellectual law started with India Patent Act, 1856. Over the period, Intellectual property has been an important criteria to sustain in the world of globalization.
As per WIPO,
“intellectual property shall include rights relating to:
1) literary, artistic and scientific works:
2) performances of performing artists, phonograms and broadcasts;
3) inventions in all fields of human behavior;
4) scientific discoveries;
5) industrial designs;
6) trademarks, service marks, and commercial names and designations;
7) protection against unfair competition and all other rights resulting from intellectual activity in industrial scientific, literary or artistic fields”.