Intellectual Property Right is a right in respect of the creations of human mind and it is a negative right that can be enforced against infringer. It identifies the Individual wealth. Intellectual Property protects the property which is incorporeal or intangible. Intellectual Property's main aim is the protection of incorporeal assets, but there are different laws in several countries.
Intellectual Property is classified into two forms viz., Industrial Property and Literary Property. Industrial Property is protected under the Paris Convention from 1883. It is divided in to Patent, Trademark, Industrial designs, Trade secrets and also some unconventional rights like Geographical Indications, Topographies of Integrated Circuits or Layout Designs, Traditional Knowledge, Plant Varieties and Biodiversity. Literary property includes copyright and neighboring / related rights. The Copyright is protected under the Berne Convention from 1886. Copyright protects expression of an idea rather than Idea itself. Copyright protects Literary, Artistic, Musical, and Dramatic works. Copyright also protects rights of Performers, Producers of Phonograms and Broadcasting Organisations. These rights are called neighbouring rights or related rights.
