Intellectual property is a kind of property, which is comprising of intangible creations of the human mind and it is protected by certain laws. It involves everything from original plays, novels to inventions and company identification marks.

Copyright protection is provided to protect literary, artistic and musical works. The “copyright” rights are linked to performing artists in shows, broadcasters in the television shows, etc.

Intellectual property rights are usually said to be a package of exclusive rights granted to the lawful owner. The term intellectual property indicates the specific legal rights, and not the intellectual work itself. It is necessary to be aware of what these IP rights are, how they can be protected and, in due course, how to benefit from them.
The purpose of intellectual property laws is to promote new technologies, artistic expressions, and inventions while boosting economic growth. When individuals know that their creative work will be protected and that they can profit from their labor, they are more likely to proceed to “build things that create jobs, develop new technology, and develop new methods to make certain processes more efficient”.