Before embarking upon the topic under study, it would be advisable to precisely define intellectual property.
The term intellectual property simply refers to the assets that are the outcome of the intellect or ideas of an individual or a group of individuals, which solely belongs to the author or the individual on the one hand, and the organisation to whom its rights have been sold or delegated by the individual creating the intellectual property, and these types of intellectual property can either be tangible or intangible.
The term Intellectual Property (IP) reflects the idea that its subject matter is the product of the mind or the intellect.'These could be in the form of Patents; Trademarks; Geographical Indications; Industrial Designs; Layout-Designs (Topographies) of Integrated Circuits; Plant Variety Protection and Copyright.'1
Intellectual property act 1994 has determined two major types of intellectual property, which include i) Copyright and ii) Industrial property. ...