Intellectual property rights assist in preserving the original work of the creator, like; song compositions, original writings, sculpture, art, films, etc. In the dynamic as well as developing economy of India it is vital to protect the rights of gifted imaginative minds and their innovations. Overall development of the market can only be expected if the hard work of the inventor gets legal protection. The sellers and the buyers must have a plethora of options to choose from, in case the available options lack quality and uniqueness, the chances of the availability of a good quality product would become even more difficult.
The advent of liberalization demanded the protection of intellectual property rights not only in India but also internationally. It was a challenging task as the legal protection of the production and distribution of the exclusive products had to now be regulated globally. To guarantee this the Government of India made added efforts to seek recognition of the Intellectual Property laws of our country on an international level. India has showcased dedication and commitment toward the World Trade Organisation and has put forward India’s bearing and outlook on Intellectual Property Rights under the Trade-Related Intellectual Property Rights Agreement (TRIPS). The replacement of the Trade and Merchandise Marks Act, 1958 with the upgraded Trade Marks Act, 1999 is proof enough of the kind of tenacity India has shown by adhering to the commitments made to the TRIPS agreement.
This paper attempts to analyse the interpretations made by courts during various situations and proposes modifications to strengthen the laws in light of changing circumstances, with a particular focus on the in-depth meaning of Intellectual Property Rights and a clear distinction between the kinds of Intellectual property rights namely; Patents, Copyrights, Trade Secrets and Trademarks.