Intellectual Property Rights are those rights of an inventor which protects his rights over a method or process for a limited time, from being copied or used by mother persons. These are exclusive rights to use, exercise or lend his inventions. Patient Rights, Trade mark; Copy Rights etc. come under the purview of Intellectual Property Rights.
The Patent Act is a law which is concerned with the rights of an inventor. He can use his inventions and its process, exclusively, to earn profit. He can exclude others from using his method which he has got patented under the Act.
In India, Patent Act comes into existence in 1970, under which many scientific process and procedures were patented by Agriculture Scientists and researchers, individually or by organisations. Medicines were also protected under this regimes.
But in India accepts the Patent provisions of the World Trade Organisation, it will have to change provisions of its patent Act-1970. This will again made Indian producers of agriculture seeds and other products, medicines and pharmaceutical products required to patent or register their inventions or research.
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They will have to face some economical, legal and technological problems to compete against foreign producers if these provisions are implemented. Therefore, Indian scientists are concerned for the agricultural and pharmaceutical patents that they have got under the Indian Patent Act-1970 and now they have to face economical strokes. Then, prices of these products will rise very high. The charged patent law will also be not in favour to Indian companies and scientists.