Intellectual property is an offspring of the 19th century industrial development and grew to adulthood in the technological boom of the 20th century. It became the buzzword of the 21st century information era, with the WTO in 1995 giving it great prominence through its TRIPS agreement, which obliged all member nations to become TRIPS compliant by 2005. Enabling legislations have been passed to make the Indian Patents Act and the entire IP scenario “TRIPS compliant”.
