Yes. A prior search can help you prevent reinventing the wheel. A good prior art search will help you identify the real state of technology in the area of your innovation and you will be able to divert your attention to unattended areas or areas that require further refinement. It will also act as a navigator to identify the real scope of value addition, product development, protection of intellectual property rights, business development, diffusion through commercial or non-commercial channels of that innovation.
‘Prior art’ comprises all matters available to the public before the date of an innovation, through written or oral description or by use or by any other method. Any search done for identifying such prior art is known as prior art search.
Intellectual Property is the Property, which has been created by exercise of Intellectual Faculty. It is the result of persons Intellectual Activities. Thus Intellectual Property refers to creation of mind such as inventions, designs for industrial articles, literary, artistic work, symbols which are ultimately used in commerce. Intellectual Property rights allow the creators or owners to have the benefits from their works when these are exploited commercially.
These rights are statutory rights governed in accordance with the provisions of corresponding legislations. Intellectual Property rights reward creativity & human endeavor which fuel the progress of humankind. The intellectual property is classified into seven categories i.e . (1) Patent (2) Industrial Design (3) Trade Marks (4) Copyright (5) Geographical Indications (6) Lay out designs of integrated circuits (7) Protection of undisclosed information/Trade Secret according to TRIPs agreements.