Overview of assets of Intellectual Property Rights: Strategic management option for competitiveness and globalization challenges

Abstract

Intellectual property rights are accepted as the most important asset of many of the world’s largest and most powerful organization; it is the foundation for the market supremacy and continuing productivity and profitability of leading corporations. This paper provides the various assets of intellectual property rights and their significance in growth of research and development. IPR can be utilized as strategic management tool in the present scenario of increased competitiveness and globalization challenges. Various IPR forms and mode of protection is discussed in order to increase awareness. It is emphasized that for IPR management it is just beginning and more awareness is required for better growth. Further it is focused to utilize IPR as strategic management tool for sustainable growth.