Intellectual Property Rights in Biotechnology Innovations

Intellectual property is the delicate product of the mind's work. The nations worldwide generally recognize four different courses for protecting intellectual property: copyright, trademark, trade secret and patent. These courses are non-exclusive, and under appropriate state of affairs, one possibly will get hold of multiple forms of protection for the same tract of intellectual property. Intellectual property has the powers of personal property. Accordingly, it may be purchased, assigned, licensed, pledged or transferred in the same manner as other forms of personal property. In recent few years, advancements in Biotechnology lead to the development of variously economically and commercially important inventions. Patent protection for such biotechnology innovations is an incalculably vital matter of apprehension.