Ques. Briefly explain Intellectual Property Rights by taking 2 examples of any product/ formula etc. You can take Acts (Copyright Act, Design Act, Patent Act and Trademark Act) as an example.
INTRODUCTION TO INTELLECTUAL PROPERTY
Intellectual Property refers to creation of mind i.e. inventions, industrial designs for article, literary & artistic work, symbols etc. used in commerce.

Intellectual property is divided into two categories:

• Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source.
• Copyright, which includes literary and artistic works such as novels, poems, plays, films and musical works etc.

According to the TRIPS Agreement, the intellectual property has been classified into-
• Patents,
• Copyright,
• Trade Marks, Trade Names
• Industrial Designs,
• Geographical Indications,
• Layout Designs of Integrated Circuits,
• Protection of Undisclosed Information/Trade Secrets.
• Plant varieties
1. Patents Patents cover inventions. These can be utility patents, design patents, and plant patents. The process of filing for a patent can be time consuming, and somewhat costly.

2. Copyright

Copyright protects intellectual property of a creative or artistic nature. Copyright often lasts 50 to 70 years after the creator's death. In some countries, your copyright must be registered to become effective. In the United States, copyright is established as soon as a work is created; in the case of software, or a digital drawing, even as soon as it is saved to the hard drive. However, registering your copyright gives you additional rights.
3. Trademarks
Trademarks are symbols, words or phrases that identify a product or company. It must be registered like a patent to protect it from use by others. Unlike most forms of intellectual property, trademarks don't expire