• Ms. Jaya Sharma
• Dr. Kamaljeet Kaur

Intellectual property refers to any original and exclusive creations of a human that can include artistic work, literary, symbols and graphics, and even scientific creations. Consequently intellectual property rights refer to the rights that protect an inventor’s or creator’s creation under legal binding, allowing them to benefit from these creations in the long run. Intellectual property rights can protect an intellectual property for a certain duration or a lifetime, considering the creator never decides to sell these rights to anyone else. The article 27 of the Universal Declaration of Human Rights has comprehensively outlined these intellectual rights, which provides an individual the right to benefit by leveraging complete ownership over scientific, literary, artistic, and material interests. In simple words, the intellectual property rights cover everything that human mind could create, starting from designs to graphical designs. Along with the basics of IP, this research paper focuses on the historical aspects of Intellectual Property Right, its types, and how IPR might influence modern-day business domains. Intellectual Property Rights, at the core, emphasize the the idea of protecting creative expression by allowing individuals to bestow the status of an intellectual property. With IPR, creators are given an exclusive ownership of their creation through copyright and trademark, restricting others from copying their invention for economical gain. As of today, the legal industry has different types of intellectual property protection including patent, copyright, and trademart. Through this paper, we’ll dive deeper into all these intellectual property right types and understand their significance in the real world.

Intellectual Property Rights; Patents; Trademark; Copyright;Tradesecrets

"A THEORETICAL FRAMEWORK ON INTELLECTUAL PROPERTY RIGHTS AND THEIR SIGNIFICANCE TOWARDS THE BUSINESS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 5, page no.n446-n454, May-2023, Available :http://www.jetir.org/papers/JETIR2305D65.pdf

"A THEORETICAL FRAMEWORK ON INTELLECTUAL PROPERTY RIGHTS AND THEIR SIGNIFICANCE TOWARDS THE BUSINESS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 5, page no. ppn446-n454, May-2023, Available at : http://www.jetir.org/papers/JETIR2305D65.pdf