Intellectual property (IP) mainly refers
to new inventions and creations by any individual or groups, such as
symbols, designs, name, concepts etc. used in commerce. Law defines
intellectual property (IP) as intangible rights that protect the
creations of the human intellect and mind, such as copyrightable works
and patented inventions. The purpose of this law is to foster a
productive environment wherein innovation is valued and creativity is
adopted. Intellectual property rights such as patents, copyrights and
trademarks not only enable people to earn economic rewards, but more
prominently, promote recognition of their work. Public policy plays a
vital role in influencing the advancement of Intellectual property markets
and thus holding stronger impact on innovation. In today’s extremely
networked world, the spreading and passing of ideas is vital to bring up
innovation. Intellectual Property Rights (IPRs) facilitates the
transfer of knowledge and other technologies by assuring all involved
parties that this knowledge or invention will not be misused.
The rate at which the electronic devices
are becoming obsolete thus compelling the companies to increase their
investments in research and developments for the innovation of new
gadgets and meeting the new demands of customers. This is one of the
main factor driving the growth of the intellectual property in
electronics environments market. Therefore, several business
organizations are investing in this domain, contributing towards market
growth. Renting of intellectual property in electronics environments
market has emerged as one of the leading trend. Intellectual property
rights also helps a company in marmarketketing its services and products
on an international level thus building a loyal trade with clients,
thereby gaining more profits. On the other hand, the growth of the
global intellectual property in electronics environment market might be
obstructed on account of the high costs of licenses and copyrights.
However, the impact of this restraint will be subdued attributing to the
increasing popularity of adoption online intellectual property during
the forecast period. The emergence of patenting funds is also expected
to provide substantial opportunities in the global intellectual property
in electronic environments market.
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