Intellectual property has assumed central importance throughout the world in the recent past. Intellectual property, which was mainly the subject matter of the World Intellectual Property organization (WIPO) has also become a part of the World Trade Organization (WTO) regime in 1995.

Intellectual property is the creative work of human intellect. The main motivation of its protection is to encourage the creative activities and inventions. The role of IP is sine qua non in the economic and technological development of a nation.