The law that protects the ‘Intellectual Property Rights’ is known as ‘Intellectual Property Law’. Intellectual property law includes law relating to;

1. Copy rights and related rights
2. Trademarks, trade names and service marks
3. Geographical indications
4. Industrial designs
5. Patents
6. Layout designs of Integrated circuits
7.  Undisclosed information.

Intellectual property has immense economic value when it is put into practice and has the capability of effecting the market also. Industrial revolution in the human history is one such example. Machines invented by the intellect of human brain caused the mass production of goods in short period of time and created a situation where supply exceeded the demand for the goods. Such situation effected the economies of the nations where the industrial revolution took place. As a matter of fact, economic development of any nation is directly related to its industrial development whereas industrial development itself depends upon the inventions invented by the intellect of human brain. Inventions as intellectual properties are protected by the Intellectual property Law. Protection of commercial interest of the owners of the intellectual property law encourages the inventors, authors, musicians ,creators of designs of industrial products, etc. to disclose their to the public without any fear of the infringement of their creations by others. Protection of intellectual property right of the inventors over their inventions by intellectual property law not only protects the economic interest of the inventors but also the economic interest of the nation to which these owners of intellectual properties belong. By protecting the economic interest of the owner of the intellectual property, intellectual property law encourages the inventors to invent new inventions, create new designs for industrial products, which are crucial to the economic development of any nation. Intellectual property law has become more important in the recent past due to an unprecedent  development in the field of information technology. In the age of satellites and internet, any development that takes place in one corner of the world gets communicated to the other corner in no time. This gives rise to enormous possibility of unauthorized working of inventions or piracy of industrial designs, infringement or passing off the trade marks, etc. at the international level. In such situation rights of a person with respect to his intellectual property require more protection by stringent intellectual property law because unauthorized working of inventions or piracy of industrial designs affects adversely not only the individual commercial interest of the owner of the intellectual property, but also affects the economy of a nation to which the owner of intellectual property belongs. But stringent intellectual property law to protect the interest of the owners of the intellectual property does not mean grant of perpetual exclusive rights to the owner of the intellectual property in total disregard of the public interest.