A patent is the granting of a property right by a sovereign authority to an inventor. This grant provides the inventor exclusive rights to the patented process, design, or invention for a designated period in exchange for a comprehensive disclosure of the invention. Intellectual Property India (IPI) provides a Patent Information System (PIS). It maintains a comprehensive collection of patent specifications and related literature worldwide.

Importance of IPR:

• • Encourages innovation and creativity by providing incentives to inventors and creators.
  • Fosters economic growth by promoting research and development.
  • Protects consumers from counterfeit or substandard products.
  • Facilitates technology transfer and collaboration.