This research paper examines the complex interface between Intellectual Property Rights (IPR) and Competition Law, analyzing the delicate balance between promoting innovation through temporary monopolies and preventing anti-competitive practices that harm consumer welfare. The study critically evaluates the legal framework governing this interface in India, primarily through Section 3(5) of the Competition Act, 2002, and examines landmark judicial precedents that have shaped the jurisprudence in this domain. Through comparative analysis of international approaches and examination of contemporary challenges, this paper argues that while IPR and competition law serve complementary objectives of promoting innovation and consumer welfare, their intersection requires careful judicial and regulatory navigation to prevent abuse of monopoly power while preserving incentives for innovation. Through a comprehensive examination of case law, statutory frameworks, and emerging trends in digital markets, this paper argues that a balanced approach is essential to foster innovation while maintaining competitive markets. The analysis includes recent developments in the technology sector antitrust enforcement, particularly focusing on major cases involving Google, Apple, Microsoft, and other tech giants that illustrate the contemporary challenges at this legal intersection.