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Intellectual property rights, or IP rights, are popular legal IP protection for developing persons. These rights have made a significant contribution to the globe, particularly economically. Many firms across a wide range of sectors rely on the enforcement of their patents, trademarks, and copyrights, while consumers can be confident in the quality of IP-backed products. Let’s dig in a little further. What are Intellectual Property Rights in India? Intellectual property includes inventions, literary and artistic works, designs, symbols, names, and pictures etc utilized in business (IP). Patents, copyright, and trademarks, for example, are legal rights that enable people to earn monetarily or gain reputation from the innovations or products they create by striking the right balance between inventors’ interests and the greater public interest. IPR Act India The importance of intellectual property can be traced back to the ancient use of stamps on bricks by Roman brick-makers for identification and even further back when the leaders of the ancient Greek city of Sybaris granted the creator of a delicious dish a one-year monopoly on cooking it. With the growth of science and technology and global commerce, a lot has changed since then. Intellectual property is a result of human intelligence. The rights granted to it allow its owner to profit from the benefits of that intellectual endeavour by granting them a monopoly. Such a benefit is not necessarily a natural right, and it must be recognized by law. In India, the following intellectual property rights are recognized by law: Patents Act, 1970 Trade Marks Act, 1999 Copyright Act, 1957 Designs Act, 2000 Geographical Indications of Goods (Registration & Protection) Act, 1999 Semiconductor Integrated Circuits Layout Design Act, 2000 Biological Diversity Act, 2002 Farmers’ Rights Act, 2001