Intellectual Property means those creations of the legal mind in relation to which the state confers upon individuals a statutory monopoly for a prescribed term to prevent their unauthorised exploitation and Patent is nothing but the Intellectual property. A patent is an exclusive right awarded to an inventor of a product or process, which prevents others from making, selling, distributing, importing or using the invention, without licence or authorization, for a fixed period of time. A patent claim relating to a pharmaceutical product may relate to an active ingredient as such independently...