Intellectual property is the work created by the intellect human brains. It is considered as property as it is capable of sale, license, mortgage etc. Intellectual property plays a major role in globalization and development of global economy. It refers to the intangible asset or property created human mind in form of invention. It is mainly divided into two types:
- INDUSTRIAL PROPERTY: Patent, Trademark, Trade secret, Design, Geographical Indication.
- NON-INDUSTRIAL PROPERTY: Copyright