Evolution of IPRs in India

Abstract

The objective of this study is to understand the Intellectual Property Rights in India and analyze current trends. Intellectual property consists of patents, trademark, copyrights, trade secrets and industrial designs. IPRs were intended to encourage innovation and fair competition. However, they can also be a tool for monopoly and exploitative rent-seeking in the hands of the large companies. Many International treaties and organization have come into existence, the most important ones being WTO and TRIPS and India have had to change its regulations to meet international standards. Recent cases and events emphasize the need for the existence of a proper law to protect IPRs in India. These are not only in the interest of the creator or the company or owner but also for the benefit of the masses who place their faith in a company and its product and have a right to be protected against fraudulent imitations by other.