Intellectual Property is the Property, which has been created by exercise of Intellectual Faculty. It refers to creation of mind such as inventions, designs for industrial articles, literary, artistic work, symbols which are ultimately used in commerce. Intellectual Property rights allow the creators or owners to have the benefits from their works when these are exploited commercially. These rights are statutory rights governed in accordance with the provisions of corresponding legislation. Intellectual Property rights reward creativity & human endeavour which fuel the progress of humankind.The intellectual property is classified into seven categories i.e.
Patent
Industrial Design
Trade Mark
Copyright
Geographical Indications
Lay put designs of integrated circuits
Protection of undisclosed information/Trade Secret according to TRIPs agreements
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