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People should be interested in Intellectual Property (IP) because IP is an intangible business asset, and if IP is not protected then others can basically steal the asset and use it to further their own interests. Protecting IP is what helps to further innovation and ensure that resources are devoted to research and design. It is also about protecting one’s position in the marketplace. As Bican, Guderian and Ringbeck (2017) point out, businesses have to manage their knowledge to maintain a competitive advantage. If that knowledge is only loosely protected, others could take advantage of it as though it were a resource out in the wild waiting to be snatched up by anyone willing to take it.
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Intellectual Property is best defined as a design, product or creation results from one’s own work and to which one has the rights for reproduction or distribution. IP is typically protected by copyright, patent or trademark, but not always. Algorithms that companies use to trade a market might be considered IP but they may not be protected by patent or copyright. The internal implications of IP are that a company often has to protect its secrets closely; other companies might try to poach workers who have access to IP and lure them...
References
Bican, P. M., Guderian, C. C., & Ringbeck, A. (2017). Managing knowledge in open innovation processes: an intellectual property perspective. Journal of Knowledge Management, 21(6), 1384-1405.
Mansfield, E. (2019). Intellectual property, technology and economic growth. In Intellectual Property Rights in Science, Technology, and Economic Performance (pp. 17-30). Routledge.
Wexler, R. (2018). Life, liberty, and trade secrets: Intellectual property in the criminal justice system. Stan. L. Rev., 70, 1343.
Yu, P. K. (2017). The RCEP and trans-pacific intellectual property norms. Vand. J. Transnat'l L., 50, 673.
Zhang, J., Gu, Z., Jang, J., Wu, H., Stoecklin, M. P., Huang, H., & Molloy, I. (2018, May). Protecting intellectual property of deep neural networks with watermarking. In Proceedings of the 2018 on Asia Conference on Computer and Communications Security (pp. 159-172).
Intellectual Property and Corporate Espionage Corporate espionage is an illegal activity though it is on rise in industrial settings. Organizations consider it as one of the techniques to increase their market share and beat the competitor. Various laws have been approved to combat these practices on domestic and international levels. Violation of these acts can result is heavy fines and suspension from business sector. The advent of information technology has revolutionized the
However, the rights have some confinements incorporating the limitations and other considerations of issues like their contradiction with the fundamental rights and the codified provisions in force. The legal issues involving intellectual property rights have two dimensions. Firstly, those that provide exclusive rights only in the sphere of copying / reproduction of the item or act safeguarded and secondly, those which provide a right to deter others from doing
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In the contemporary cyber environment, innovation does not enhance success. For example, most patents such as songs and books receive low rewards. The author suggests that there is a need to make rules to enhance the bargain of intellectual property owners. Part 2 In the contemporary cyberspace and it world, the traditional copyright law has not been sufficient to protect intellectual property right in the face current development of computer and
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