How Do Virtual Businesses Ensure Intellectual Property Protection?

INTRODUCTION

Intellectual Property as we can derive from the term, is any asset that is the creation of human intellect. It is intangible in nature and every original creator of such property has the right to protect the same. This idea has facilitated the evolution of the Intellectual Property protection regime and laws.

While in case of tangible property the protection seems an easier task the same stringent protection for intangible creations is not that easy. Companies are meticulous about identifying and protecting intellectual property because of its tremendous value in the current knowledge-based economy.¹ Extricating benefits from intellectual property and keeping others away from drawing similar benefits from the same Intellectual Property is a significant duty for any organization.