A patent is an exclusive right granted by the government to the inventor of a product for a limited time for his/her invention.
Copyright means the exclusive right to do or authorise the doing of certain actions in respect of a literary, dramatic or musical work, computer programme, artistic work, a cinematograph film or a sound recording.
Industrial design refers to any creative activity that results in the physical or formal appearance of a product. Design right is an exclusive right awarded to the proprietor for a new or an original design.
A geographical indication (GI) is a name or identification used on certain products that hails from a specific geographical location or origin.
A functional business of any form has to be wound up formally as per rules and regulations. An incorporated business such as Company and LLP requires to be closed as per laws.