Intellectual property rights, very broadly, are rights granted to creators and owners of works that are the result of human intellectual creativity. The main intellectual property rights are: copyright, patents, trade marks, design rights, protection from passing off, and the protection of confidential information.

Intellectual property rights is a legal concept that confers rights to owners and creators of the work, for their intellectual creativity. Such rights can be granted for areas related to literature, music, invention etc, which are used in the business practices. In general, the intellectual property law offers exclusionary rights to the creator or inventor against any misappropriation or use of work without his/her prior knowledge. Intellectual property law establishes an equilibrium by granting rights for limited duration of time.

Types Intellectual Property Rights

Copyright
Copyright, one of the form of intellectual property right, offers exclusive rights for protecting the authorship of original & creative work like dramatic, musical and literary in nature. Symbolized as "©"

Patent
A patent is termed as the exclusionary rights given by the government or the authorized authority to its inventor for a particular duration of time, in respect of his invention.

Trademark
The trademark or trade mark, symbolized as the â"¢ and ®, is the distinctive sign or indication which is used for signifying some kind of goods or/and services and is distinctively used across the business

Trade Secrets
Trade secret points towards a formula, pattern, any instrument, design which is kept confidential and through which any business or trade can edge over its rival and can enjoy economic gain.

Utility Model
The utility model is the intellectual property right for protecting the inventions. It is somehow described as the statutory monopoly which is bestow upon for the fixed duration of time in exchange to the inventor

Geographical Indication
Geographical Indication (GI) signifies to the name or sign, used in reference to the products which are corresponding to the particular geographical area or somewhat related to the origin like town, region or nation.

Industrial Design Rights
Industrial design rights are defined as the part of the intellectual property rights which confers the rights of exclusivity to the visual designs of objects which are generally not popular utilitarian.

Advantages of Intellectual Property Rights
Intellectual property rights help in providing exclusive rights to creator or inventor, thereby induces them to distribute and share information and data instead of keeping it confidential. It provides legal protection and offers them incentive of their work. Rights granted under the intellectual property act helps in socio and economic development.

Intellectual Property Rights in India
India has defined the establishment of statutory, administrative and judicial framework for protecting the intellectual property rights in the Indian territory, whether they connotes with the copyright, patent, trademark, industrial designs or with other parts.