Intellectual Property has become an important means of amounding tangible wealth as both the intellectual properties and intangible assets jointly form the most significant driving force of the world economy. The scope of the intellectual properties increased very rapidly and regular attempts are made by the producers of new creative ideas to seek protection under the umbrella of intellectual rights. Intellectual Property is classified into two categories, vis-à-vis, Industrial Property, which include inventions (patents), trademarks, industrial designs, and geographical indication of sources; and Copyright.