IP Management assignment Example | Topics and Well Written Essays - 2000 words

IP Management - Assignment Example The maintenance of ownership of the intangible assets is critical in today’s world where a rapid pace of innovation is followed. The value of the largest organizations in the globe are much dependent on the knowledge based innovations and designs within the organization. Therefore, it is critical to manage the intellectual properties efficiently so as to maintain the intangible assets and the value of any organization. Invention plays a critical role in adding value to the business by contributing to different processes with an objective of capturing and generating knowledge within the organization. Therefore, it is imperative to stress on the proper management of the intellectual properties like patents, trademarks and copyrights within an organization. The management of intellectual property encompasses a wide range of activities including the understanding of the intellectual property, the inherent value of the intellectual property and how the intellectual property should be protected from infringements. Intellectual properties are valuable financial and strategic resources of an organization. Therefore like any other asset, the intellectual properties should also be managed continuously. The proper management of the IP would ensure that the organization attains an in-depth understanding of the IP and thus can assess its values and benefits better. The effective intellectual property management would also ensure that the properties are protected from outside risks like infringement, usage and copy by third parties. The management of intellectual property is not a one-time event but a continuous process that is to be continued till the expiry of the intellectual property. The different decisions points to be identified within the life cycle of an intellectual property for the intellectual property management process are given below. Intellectual