A Conceptual Study on Role of Intellectual Property Rights in Management and Technological Innovations

Intellectual property (IP) rights are valuable assets for your business - possibly among the most important it possesses. In the twenty first century, the realm of intellectual property rights emerges as a relatively new and rapidly developing area of practice (Heath & Sanders, 2009). The global framework of intellectual property rights is quite controversial although, it is still immensely helpful in deciding the course of innovation and design processes. Managing innovation better than its competitors is one of the main objectives of a business that wishes to survive and thrive in today’s economy. IP management can help researchers determine which areas of industrial research are promising and areas where existing patent would block any meaningful innovation. The purpose of this study is to know the role of intellectual property rights in management and technological innovations. Intellectual property rights mechanisms are being rapidly deployed and consistently monitored to ensure the integrity and security of the intellectual properties.