Ayushi Sharma, Advocate, M.P. High Court, Jabalpur
ABSTRACT
An increasing tendency of cross-organizational collaboration for innovation is being seen by the collaborative development model. It is intended that creative endeavors lead to innovation, which in turn encourages growth and promotes entrepreneurial endeavors. All forms of protection, including patents, copyright, registered trademarks, registered designs, and design rights, are referred to as intellectual property rights. A patent gives creator the special power to use their creation. In research and development, they are essential to the generation, protection, and IPRs like patents. Patent rights are well known to offer substantial advantages since they can be licensed or sold, and they serve as the basis for producing, utilizing, and commercializing goods, services, and methods that lead their industries. However, fundamental understanding of a few crucial elements is thought to be necessary among stakeholders in order to get legitimate patent rights. The author evaluated the readers' comprehension of intellectual property rights basics, promote innovation and offer entrepreneurs recognition. Ownership and public disclosure practices throughout a range of industries, worldwide for both public and private organizations of different sizes. Their findings included outstanding knowledge, assigning employers ownership of the patent property, and solid knowledge of correct maintaining processes. Nonetheless, intellectual property rights have sparked creativity in discoveries and inventions, rewarding entrepreneurs.
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