Moral basis of intellectual property (JP) is explained mainly through liberty, personality, utilitarian welfare maximization and social plan theories. Further, World Trade Organization (WTO) mechanism for protection of the IPs under the TRJPs Agreement also provided some flexibilities and granted extensions for transitional period in order to implement intellectual property. This article argues that the justificatory theories of IP and the flexibilities and extensions in TRJPs Agreement reflect that consumer rights play a justificatory role for intellectual property. It then illustrates this relationship through patent, copyright, trademark and competition law. The article supports the view that ensuring a balance between these two regimes is necessary for better IP legislation and more reasoned judgments in IP related cases.