Intellectual property is a product or creation of mind. Though it is a property, it is different from other properties we posses which are physical in nature. Thus being a special kind of property, it needs a special way of protection. Worldwide, Intellectual property rights have been created to deal with this kind of situation.
Intellectual Property laws in India are complex and are established across all levels- statutory, administrative and judicial. The laws lay down minimum standards for protection and enforcement of intellectual property rights required to promote effective and adequate protection of intellectual property rights with a view to reduce distortions and impediment.
Law aside, planning strategy and policies keeping your business' intellectual property in mind will aid smooth functioning and success.