Intellectual Property Law has assumed a great importance in recent times as a result of the recognition that "knowledge is property". The field of Intellectual Property and its growth in recent times is definitely remarkable and outstanding in the light of changing needs and necessaries of the society, the nation and the world of nations.
Intellectual property refers to a property or asset which is intangible and is a creation or work of human mind or intellect, specifically, an idea, invention, discovery, trade secret, process, program, data, formula, patent, copyright, and trademark , design etc.
Intellectual property (IP) Law is an umbrella term used to refer to the object of a variety of laws, including Patent Law, Copyright Law, Trademark Law, Trade secret Law, Industrial Design Law, and potentially others. These Laws provide exclusive rights to certain parties and many of them implement government-granted monopolies. Copyrights, for example, generally allow only one party to make copies of a work.