Strategy for Developing Intellectual Property and its Relevance in Maximizing Benefits for an Organization: A Review of its Technicalities

International Review of Law and Technology, Volume 1 Issue 1 (2020)

11 Pages Posted: 14 Apr 2021 Last revised: 15 Apr 2021

See all articles by Jayanta Boruah

Jayanta Boruah

North-Eastern Hill University (NEHU)

Masia Baruah

NERIM Law College

Date Written: September 29, 2020

Abstract

In recent years the entire globe has witnessed a magnificent growth in the sectors of technology and creative industries which in turn has increased the concern of private enterprises for the development and management of Intellectual property (IP). IP includes those inventions -literary or artistic work, design, symbols, names, images, or any other intangible creations which, just like any other property, can be owned, developed, and managed so that it provides maximum economic benefit in return to the owner or author. In today’s world IP has evolved as an essential asset generating medium to the enterprises and is also immensely contributing to the country’s economy. Many countries also perceive IP as an important determining factor of its economic policy. However, the development, accumulation as well as the use of such assets in the form of technologies, products, and services require strategic plans to get a better financial return. This paper focuses on what IP strategies mean, and what are the various objectives which such proactive and strategic plans seek to achieve. It also reflects on the necessity of such strategies and what benefit it causes to business enterprises and lastly this article also outlines the ways these strategies can be developed.

Keywords: Intellectual Property, Strategy, Management, Industry Assets, Benefits

Suggested Citation

Boruah, Jayanta and Baruah, Masia, Strategy for Developing Intellectual Property and its Relevance in Maximizing Benefits for an Organization: A Review of its Technicalities (September 29, 2020). International Review of Law and Technology, Volume 1 Issue 1 (2020), Available at SSRN: https://ssrn.com/abstract=3814664 or http://dx.doi.org/10.2139/ssrn.3814664

Jayanta Boruah (Contact Author)

North-Eastern Hill University (NEHU) ( email )

Meghalaya
India

Masia Baruah

NERIM Law College

India

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