Intellectual property rights is popularly known as IPR. Intellectual property means the property which has been derived from the intelligence of the creator. This property doesn't include tangible property, it consists wholly and solely of Intangible property. Thus, business name, new inventions in respect of technology, new songs, novels and various other unique creations comes within the ambit of Intellectual Property Rights. Intellectual Property has been derived from Natural law and not from statute or precedent , thus it is not necessary that protection shall be granted to a particular work only when it is registered, however registration provides add on advantage to the registered owner apart from marking the proceedings smooth and less cumbersome.
Form the above mentioned paragraph it should not be taken into consideration that all ideas shall be guaranteed protection as per the rules and regulations of Intellectual Property Rights. Intellectual Property Rights guarantees protection against certain expression of the ideas duly created or ideas already existing . Intellectual property property can be used as a medium to protect the ownership of the registered propreitor in respect of the product and not the product itself.Intellectual property right guarantees different kinds of rights to the proprietor. For e.g. It gives right to the owner of the intangible property to sell and assign his work/creation/brand to anyone as per his discretion. Also the owner can prevent himself from possible infringement in case the work or created property gets violated by someone. The following are the services which are covered withing the meaning of Intellectial Property Rights.
- Geographical Indications