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In this lecture, we will be looking at some of the fundamental principles that govern intellectual property rights. We will be looking at what is intellectual property and looking at the individual things that constitute intellectual property rights. We will also be looking at the difference between intellectual property - that is IP, and how that stands different from IPR, which is intellectual property rights. For this, we will have to first look at what rights are. What do we mean when we say rights? And we will have to also look at the concept of property. Then, we will have to explain what we understand by the term intellectual. Now, when we do these things, we will find that it is possible for us to identify certain fundamental things as characteristic of an intellectual property right. After that exercises is done, we may try to give a definition to intellectual property rights. And I must tell you that there is no universal definition on intellectual property rights as of now.
