i. **The governing bodies:**

The significance of trademark is mentioned as follows:

i. TM projects the actual origin of goods and services.

iii. It stimulates further buying tendencies.

drinks, handicraft items, and industrial products.

the benefit of IP assets across the globe.

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iv.TM acts as a badge of loyalty.

**2.4 Registered design rights**

*Intellectual Property Rights - Patent*

sciences and biotechnology field.

**2.5 Geographical indications**

ii. It guarantees the identity of the origin of goods and services.

v. It may enable consumer to make a lifestyle or fashion statement.

Industrial designs constitute the esthetic aspect of designs. It comprises of 2D and 3D structures of articles. The owner of registered design rights prevents others from making, selling, licensing, and importing or copying the designs. The industrial design concerns more the aspect and esthetic of the device and also in the life

The geographical indications (GIs) are the signs used on the products that have

Established in 1970, the World Intellectual Property Organization (WIPO) is an international organization that ensures the maintenance of rights of inventors and owners of intellectual property worldwide, and they are appraised monetarily for their originality [4]. This international agency is recognized as an agency fostering creations of innovators, thus assisting the scientific world and literature. WIPO provides an edge to the dynamic industrial world by facilitating several revolutionary measures to international trade. WIPO acts meticulously with its member nations toward a guarantee that intellectual property system remains firm and in

some specific place of origin. The quality and characters of a product must be essentially due to its place of origin. It includes agri-products, foods, alcoholic

**3. Implication of World Intellectual Property Organization (WIPO)**

Intellectual property (IP) rights are recognized as the yardstick of technoeconomic growth of the country. This is because IP is directly proportional to the R&D divisions of the economy. Patents are a critical competitive arm in this cutting-edge competition, and a huge investment is needed for promoting and nurturing IP. Envisaging such facts, government's role, and initiative for an exhaustive environment are needed which would encourage innovation and commercialization [5]. In short, the economic benefits of the patent system are derived from its roles in promoting innovation and encouraging investment, economic

In 1994, the General Agreement on Tariffs and Trade (GATT) conducted the Uruguay Round for international trade negotiations in line with Trade-Related Aspects of Intellectual Property Rights (TRIPS). Substantially, the member nations of World Intellectual Property Organization (WIPO) in 2000 agreed with the Patent Law Treaty. TRIPS transformed the regulation and the Patent Law Treaty,

growth, knowledge sharing, and the efficient use of resources.

which primarily focused on rationalizing the procedural reforms.

