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Intellectual Property Rights IPR has virtually touched all spheres of human lives including social cultural economic and technical areas and is fast becoming a tool for the national development in the context of globalization of trade and commerce and emerging knowledge world order. In this context, developing countries have many challenges to face while evolving their own IP systems in order to satisfy their public policy needs and developmental goals. These countries have responded to the new order in different ways and have tried to handle global IPR issues with a sense of commonalty especially in the matters related to protection of genetic resources and traditional knowledge. There is a sense of urgency in developing IP systems in each country to derive maximum benefit from the IPR system to address efficient utilisation of innovations and creativity. Besides this, scientists and technologists can no longer plan and execute their researches without being adequately prepared with the state of the art information driven IPR systems and thus need to have clear and sound understanding of the principles of IPR and good practices of its protection and exploitation.