The focal objective of this article is to analyze the role of intellectual property rights in technological implications within a general context. The performance of the IPRs system and its interaction with national innovation system with some degrees of success has also been highlighted. Major encounter over subsequently decade will be to identify policies and solutions that would permit marketplace economy to flourish in the framework of this intellectual property insurrection. There has been a lot of dispute on the role of intellectual property protection regime specially in fostering innovation, technology development of a country. IPRs are expected to emboli the innovation, by rewarding inventor with a grant of domination rights over the mercantile exploitation for a specified time period. This article tries to attempts to review the role of the IPR regime in technological development and also have suggested some policy implications for country like Pakistan and some reflecting lessons for other developing countries with similar settings and common characteristics.