In this digital era, man invented and developed so many things by using his intellectuals. The growth of technology and scientific innovation led to the development of the countries, initially which were significantly less developed. Intellectual property rights play an essential role in the protection of these technological and scientific developments. Intellectual property rights protect the hard work of the individuals who worked day and night to develop that particular device or product. There are chances of infringement of your ideas, innovations, research, and developments, etc. So you must have IP rights for your creation; with the help of the IP rights, you can sue the other parties who used your ideas, your business information, your innovations for illegal growth without your permission. By this facet, there are many question marks regarding IP rights in technological and scientific developments.
This paper has varied aims that have been discussed separately under several heads: firstly, to discuss intellectual property rights and their different kinds? Secondly, to discuss the evolution of Intellectual property rights. Thirdly, how it helped for human and Economic growth? Fourthly, to examine how does Patent pooling helps to generate the Economy? Fifthly, it ends with some suggestive measures, and lastly, it ends with the conclusion.