April 26 has been observed as World Intellectual Property Rights (IPRs) have much wider definition, IPRs may range from rights over new innovations to community rights over traditional wisdom and national and regional rights over produces and products of geographical innovations. Ever since the launch of the World Trade Organisation (WTO), IPRs have assumed much importance. In fact under WTO, there is an agreement on the trade-related intellectual property rights which is otherwise known as the TRIPs agreement.