1. Intellectual Property rights (IPR)
Intellectual property (IP) refers to creations of the mind:
inventions, artistic works, discoveries and symbols, names, images, and designs used in Commerce, for which a set of exclusive rights are recognized in corresponding field of law.
In a short context, intellectual property is protection over something that gives the business a competitive advantage in the marketplace.  It prevents others from replicating your business.

2. Examples of IRP Trade Mark as Intellectual Property
Trademarks are also very common types of intellectual property that can protected as well.
Trademarks examples of intellectual property include:
Business logo.
Business name
Business slogan.
Even business color schemes can be protected (in certain
circumstances) under trademark law.

3. Examples of IRP Trade Secret as Intellectual Property
Trade secrets are simply secrets of business trade. 
It can be a secret while filing for a patent, or it can be a secret forever, such as the Coca Cola Recipe. 
Here a few good examples of intellectual property trade secrets:
Recipes
Business Methods
Marketing Strategies
Anything else that gives the business a competitive advantage

4. The background
Most of the technological development has resulted from cooperative ventures formed between and among the private sector, universities, and government entities which allow them to share risks and cost and benefits of the innovations,
Thus, this joint research that leads to technological breakthroughs needed to be protected often through patents.

5. Since the most significant application of IRPs is in Trade
Hence, Trade Related aspects of Intellectual Property or (TRIPs) requires more attention
than any other IPR

6. What is TRIPs agreement?
It is an integral and legally binding part of the new World Trade Organization (WTO),
TRIPs provides comprehensive rules and standards for protection of intellectual property which includes
copyrights, trademarks and patents
and came into force on January 1st, 1995,

7. TRIPs Article 27 of Patentable Subject Matters
Requires member countries to grant patents for inventions, whether product or process in all field of technology, provided that they are
New,
Involve an inventory step and
Are capable of industrial applications

8. What Is patentable?
Most of the processes and many products of biotechnology research are patentable
Patents shall be available and patent right enjoyable without discrimination as to:
The place of invention,
The field of technology, and
Whether the products are imported or produced locally

9. Status of patents
Consolidation of private research is the extension of IP on every product
It took US 200 years ( ) to approve six million patents
By that time three million more application were received all concerned with biomaterials
In 1999 “WIPO” received record 76,023 thousand applications coming just from five countries(US, Germany, Japan, UK, France)

10. Investment in knowledge results in
technological change
Technological advance requires investment,
Investment in knowledge is different from that in human
and physical infrastructure,
iii. Generation of knowledge primarily takes in technology rich
Countries,
iv. Advanced economies profit more from investment in knowledge than developing countries,