Intellectual property is an integral part of economic development and interactions in modern society. It refers to creations of the mind: inventions, literary and artistic works, and symbols, names, and images used in commerce. In order to promote creativity and dissemination and application of its results, the international community has developed several international conventions and agreements in respect to intellectual property. 

The 1994 Agreement on Trade-Related Aspects of Intellectual Property Countries has provided certain uniform standards in the area. Intellectual property is called upon to also address important development and social issues such as public health, sustainable development and other critical areas such as the protection of traditional knowledge and traditional cultural expressions. As a specialized agency of the United Nations with exclusive mandate in intellectual property, the World Intellectual Property Organization (WIPO) has taken numerous initiatives including the WIPO Development Agenda to effectively respond to these global challenges. A better understanding of the basic concepts of intellectual property and recent developments in the field is necessary to strive to establish a balanced system and to promote technological innovation and allow for sustainable development.