The Intellectual Property Law regulates the creation, use and exploitation of mental or creative labor. The Intellectual Property is an invisible / intangible right to a product of a human 's brain, such as a new invented product, i.e. property of the mind.
Intellectual Property is required to safeguard creators and other producers of their intellectual commodity, goods and services by granting them certain time-limited rights to control the use made of the manufactured goods.
It promotes innovation and creativity and ensures ease of doing business.
The international character of Intellectual Property is recognized in various international conventions.
Intellectual property is divided into two broad classes: Industrial Property and Copyright.
Industrial property is one of two subsets of intellectual property it takes a range of forms, including patents for inventions, industrial designs (aesthetic creations related to the appearance of industrial products), trademarks, service marks, layout-designs of integrated circuits, commercial names and designations, geographical indications and protection against unfair competition.
Copyright, a form of intellectual property law, protects original works of authorship including literary, dramatic, musical, and artistic works, such as poetry, novels, movies, songs, computer software, and architecture.