Intellectual Property and Allied Laws
Thursday 19 November 2015
Exploitation of Intellectual Property Rights
Many seem to know, what is Intellectual Property? Different
intellectual property rights and what all can be protected through those
rights. However, very few seem to know what to do with it. Are we to keep it in
the cupboard and forget about it? On the other hand, should we boast about possessing
an IP?
Most commonly, IP right holders imagine, "thank god I
have registered my IP, no one can copy now. If anyone copies I will drag
them to court".
Well, it is important to protect IP from infringers and
safeguard your IP. Nevertheless, that is not its only purpose. I would say if
IP is not exploited it is equal to an abandoned house.
A house for example, can be sold, mortgaged or could be given
for lease and income can be earned. Similarly, IP can also be licensed, pledged
or assigned and income can be earned.
No owner of a house would wish to keep it locked if he knows
that it will fetch decent income. Therefore, all IP holders should recognize
that IP is capable of generating revenue and should exploit to the maximum. In others,
words should be treated as a valuable asset.
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