Intellectual Property Rights

Abstract

Intellectual Property Rights are rights given to any particular person/organization for their new creations based on their minds for a certain period of time with an exclusive right over the use of their creation. Generally, in various industries, IPR is made a part of their intentional preferences in the regular activities. Various corporations, in order to ensure their sustained growth, enhanced profits and leadership in the market they intended their project management system based on: • Optimized use of inter/intra knowledge base • Strategic management of IPR • External channels for knowledge and inventions as inputs • Internal expertise to manage research and collaborations • Clarity on knowledge ownership issues through mutually beneficial licenses • Pooling of IPR as in the case of several companies who have formed patent pools of their DVD patents for mutual benefits