Intellectual Property Rights (IPR) are to protect rights of owners so as to prevent unauthorised use or sale of IP.
Normally we come across three terms called discovery, invention and Innovation.
Discovery is about finding something which is existing already. Invention is about building a concept or an entity to help solve the societal issues. Innovation is all about conceiving something new, conceptualising it, building, validating and commercialising.
IPR Types (WTO agreement)
- Copyright
- Trademark
- Geographical Indications
- Industrial Designs
- Patents
- Integrated Circuits
- Trade Secrets
Patent: A Patent is a grant given by the state in the form of a certificate for disclosing an invention by which certain exclusive rights are confered on the patentee which can be exercised in the country which grants the rights for a limited period.