Intellectual property means the product of the human brain. In simple terminology, it means the legal rights which result from intellectual activity in the industrial, scientific, literary, and artistic fields.

In a legal sense, intellectual property is a property i.e. Corporeal property and Incorporeal property. It is something that can be owned like any other property and can be assigned, mortgaged, and licensed.

Now, within its ambit intellectual property includes the following:

1. Patent: A patent is an exclusive right granted for an invention of a product or a process of doing something in a new way, or providing a new technical solution to a problem. To be patentable, the invention must fulfil certain conditions i.e. it must be new, be industrially applicable and be an innovative step. Patent inventions have, in fact, pervaded every aspect of human life, from electricity lighting and plastic to ballpoint pens and microprocessors.
2. Trade Marks: A trademark is a mark that identifies as a distinctive sign of certain goods or services produced by a scientific person or enterprise. A trademark helps the consumer identify and purchase a product or service that is meeting their needs as to its nature and quality, indicated by the unique trademark of the producer. The protection period varies, however on payment of additional fees a trademark can be renewed indefinitely beyond the time limit.
3. Copyright: It is right given to creators of literary, musical, artistic, dramatic works and cinematograph film producers, and sound recordings. It is a bundle of rights including rights of reproduction and translation of any work, adaption, and communication to the public. Copyright Law provides protection to the rights of authors over their creations and thereby, rewarding creativity.
4. Geographical Indication: A geographical indication (GI) is a sign used on goods that have a specific geographical origin and possess qualities, reputation, or characteristics that are essentially attributable to that place of origin. For example, a Darjeeling Tea, Champagne Wine, Scotch Whisky, Kohlapuri Chappals, Basmati Rice, Pashmina Wool, etc. The duration of GI may be initially for 10 years but it may be renewed from time to time under the provisions of the Act. To claim protection for the GI, it must be registered.
5. Industrial Design: It is an ornamental or aesthetic aspect of an article. The design consists of 3-dimensional features or 2-dimensional features such as the shape and size of an article, its patterns, lines, or colours. They are applied to a wide variety of products of industry and handicrafts from technical and medical instruments to watches, jewellery, and other luxury items; from textile design to leisure goods.
6. Semi-Conductor and Integrated Circuits: The Semi-Conductor Integrated Circuits Layout- Design Act, 2000 provides for the protection of layout design by registration. Protection under this Act is for 10 years. Act also provides for payment of royalty for registered layout design.
7. Biological Diversity: The Biological Diversity Act, 2002 ensures the conservation of biological diversity in India, fair and equitable sharing of the benefits arising out of the use of biological resources, and also ensures sustainable use of biological components.
8. Plant Varieties and Farmers’ Rights: The Protection of Plant Varieties and Farmers’ Rights Act, 2001 is enacted to protect the new plant varieties breeders, benefit the farmers and researchers, and encourage the growth of the seed industry.
9. Trade Secrets: Trade secrets are like goodwill. The only requirement is that the information must be kept a secret. They are a relatively newer form of intellectual property. On the international level, WTO members are obliged to protect trade secrets under the TRIPS agreement, wherein described as undisclosed information.

This Article Does Not Intend To Hurt The Sentiments Of Any Individual Community, Sect, Or Religion Etcetera. This Article Is Based Purely On The Authors Personal Views And Opinions In The Exercise Of The Fundamental Right Guaranteed Under Article 19(1)(A) And Other Related Laws Being Force In India, For The Time Being. Further, despite all efforts that have been made to ensure the accuracy and correctness of the information published, White Code Legal and Tax shall not be responsible for any errors caused due to human error or otherwise.