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Intellectual property is a right which is pervading some material object. The intangible products of a man’s brain are more valuable than his lands, money buildings, belongings, goods, etc. It is quite different from formal or a real property. In fiction, it is a kind of property. Hence, it is called as intellectual property. The rights concerning to the intellectual property are recognized by Indian law as the subject matter of rights of various intangible products i.e. skills and labour, human intelligence etc. In brief intellectual property is basically relates to intellect or a creation of intellect. The intellectual property rights are basically a legal rights which govern the use of creations of the human mind and work. Intellectual property rights have grown to a position from where it plays an integral role in the economy development of global over the past two decades. In 1990s, laws were strengthened in this area by many nations unilaterally. In the multilateral level, there was enhanced protection and enforcement of IPRs to the level of solemn international commitment because of the successful conclusion of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) in World Trade Organization. There is a vast domain of intellectual property. Since a long time Copyrights, Designs, and Patents Trademarks have received recognition. Newer forms of the protection are also developing particularly encouraged by the stimulating emergence in scientific and technological activities. Many enactments has been adopted by Indian Government and various judicial decisions has been passed by Apex Court for safeguarding Intellectual property rights.