Intellectual property is a very important aspect of human life because
it is the root of greatest innovations the world has ever experienced.
Despite this, it has been recorded as one of the mostly-infringed
human rights in this century. This is so because, although it usually
come from unique perspective of people, it is nevertheless easy to
steal without attracting much attention. The law, while performing
its role of ensuring justice in the human society through protection
of rights, attend to this problem by setting up some guidelines on
how this property should be used. The impact of intellectual
properties is mostly recognized in the economic aspect of human
endeavour for it is the backbone of trading. In order to understand
the importance of this property on businesses, Small and Medium
Enterprises (SMEs) especially as this paper is concerned, and how
the law has been seeking to protect it, this paper is written.