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The term Intellectual Property (IP) reflects the idea that its subject matter is the product of the mind or the intellect → inventions, music, literature, and other artistic works and designs used in commerce; for which a set of exclusive rights like copyrights, trademarks, patents, industrial design rights and trade secrets are recognized under the corresponding fields of law.

"Intellectual property is a part and parcel of our life. No matter what we do and where we are, we are always surrounded by the fruits of human creativity and inventions which make our life easier"