Commercialization of Intellectual Property; an Insight for Technocrats

摘要

Industry4.0 focuses on growing trend of innovation and interconnectedness. These factors entail to a dire need to protect innovative products and procedures from being easily imitated, weakening an enterprise's competitive advantage. Hence Intellectual Property Rights (IPR) can serve to protect the uniqueness of an invention, which can then be commercialized to foster to the knowledge and technology transfers for a common cause. The purpose of this paper is to provide inventors, researchers and enterprises a guideline on the importance of IPR and also discussed about commercialization procedures involved for the same. Using the U.S. Chamber International IP Index ranking, some countries have been highlighted in light of their legislations and ease to commercialize IP assets including the extent of local barriers and contingency on sharing IP with local entities or imposition of restrictions on licensing activities.