INTELLECTUAL PROPERTY AND ENTERPRISE VALUE. INNOVATION BITES
Modern innovation is the basis of a dynamic economy. The grants have shifted from university to the corporate arena. Scientists, researchers, and inventors have followed rigorous standards in a discipline of innovation, laboratory compliance, team listing, peer review and scientific publishing. All this intellectual labor is to be productive in the end. Excellence is recognized in achievements and… Read More »
Modern innovation is the basis of a dynamic economy. The grants have shifted from university to the corporate arena. Scientists, researchers, and inventors have followed rigorous standards in a discipline of innovation, laboratory compliance, team listing, peer review and scientific publishing. All this intellectual labor is to be productive in the end. Excellence is recognized in achievements and merits of scientific breakthroughs which can boost the business of commercial ventures.
Engineers, scientists or inventors may sell their product to the marketplace. They are picked up by assessors who can convert their intellectual substance to an enterprise. Imagine inventing the flying car. The engineer is arranged by Uber or an alliance group to manifest the technology, refine it, assess its marketability, or follow feedback from experts intending to use his product. His product is Intellectual Property and sells at the cost of a lifelong value. The value of his property is not the flying car. It is the idea, the technical, the patent, the package, the recognition that makes it all happen. This patent, trademark, logo, award may be valued at several million dollars as the world is to use it and a market is to be generated of over ten times more value. The adjunct disciplines, skills training, safety apparatus, factory planning, buyers, agents and so forth are all arranged when the deal is transacted.
During the era of the internet revolution and the incoming internet of everything, the scope for the Intellectual property is high, especially with apps, IOT devices, and knowledge database development. The risk to Intellectual property is extremely high simultaneously, in proportion to the value of the product.
Cyberwars, star wars, intellectual wars and avenger games have hit the market in a catch 22 situation, where innovation robs the innovator of his property as it is completed and before it is sold. Innovation may be on record as a competitor satellite group with advanced machinery to invade the privacy of an individual in his experiment, a satellite militant army that attacks unprepared individuals and researchers to manage a dangerous cutting edge message for the business world to show redundancy, or to face death.
This is the hurdle and high cost of intellectual war the world is currently located in. Apple released the news recently of the trillion dollar cost anticipated to manage cybersecurity in 2018 to protect attacks on patents.
The Judicial machinery is conversant with intellectual property laws but handicapped in managing instant controls, or in following the threat intelligence. The threateners show conflicting or disguised systems and conceal their play. Yet they dominate the world.
The individual strengthens his study of the law, manages his patent, manages secure emails, secure networks, communities, laboratories, and funders, well linked to governments. Open access scientific portals and libraries have arranged individuals with ORCID ID and more Intellectual property controls in order that their contribution is recognized and their value may be assessed by funding agencies or companies.
An artist, photographer, poet, author, dancer, architect or even a tailor, has the scope and right to establish his identity digitally and in physical space. They have the right to a financial value for their skill. The internet can immediately show hackers and thieves in their system. A tailor showing up as a photographer for paid assignments will indicate a confused identity, a work attempt that is not skill related.
It is time for everyone to understand their skill and convert it into a financial strength. They may take their photography through a portfolio to a lifestyle magazine. Or they may take their dress design to a fashion house to obtain a job.
A photographer and tailor can occupy a place on the street with a promotional hoarding. This does not protect them when the attacker comes to steal their style. They must be arranged to consultants and legal experts to secure their professional development in the global workspace.
It will be very comforting to see an India conforming to the lofty ideals of the judiciary and seeking refuge in their organized systems. Bill Gates has spoken that in the current times with the race for data “Intellectual Property has the shelf life of a banana.”
However, we must see the other side of merit, stamp our identity, protect ourselves in the law and appeal to the judiciary in case of criminal trespass. We must also follow and activate self-managed security, use private computers, securing emails, secure profile identification, Aadhar card or mobile phone listing, address and professional listing and a secure photograph. We must manage to conceal our data, act swiftly, not leave open computers unattended and report to cyber police to secure against data loss.
With Intellectual Property in hand, let us commit to join hands to keep the internet safe.
– Malini Chaudhri
Content Writer at Legal Bites
1) Intellectual Property Protection to Magic Tricks in India