Albert Einstein, one of the most well-known physicists in the world, has given so many laws and theories to physics. His accomplishments established the pillars of physics in the human mind more deeply than ever and have opened new dimensions for the upcoming physicists. But most people are not aware of the fact that ‘The Theory of Relativity,’ was not formulated by Einstein as the fundamentals of this theory have been discovered by a Dutch physicist named Hendrik Lorentz and a French mathematician named Henri Poincare.
Several cases published for this theory have been named under Einstein and Lorentz and Poincare were given no credit for their basics as their ideas were not protected under patents. It was not a solitary case in history where the first innovator of an important scientific discovery has not given his/her due credit. There has always been a chance of double discoveries in every possible field of intellectual property and thus you need protection strategies for your intellectual assets.
Intellectual Property (IP) and Economic Growth
Intellectual property is the creation of the human mind and intellect and thus it is also termed an intellectual asset. IP is an umbrella term that incorporates creative ideas, artistic works, business ideas, and innovations in science and technology. While many firms are creating revenue through tangible assets, few firms are busy getting monetary profit from intangible assets too. Individuals as well as organizations too are reaping the benefits from their creativity in different dimensions.
Over the years, we have seen a lot of firms have been able to create their brand reputation, by providing the customers with unique features in their products and services. This has turned their ventures into profit-making businesses. This is evident in both business endeavors and in the regions of literature, music, and other intellectual fields. In many cases, the entities are solely dependent on their intellectual property for earning their livelihoods.
People can opt for licensing, the easiest approach to turn their copyright, trademark, or patent into revenue by selling and earning profit through royalties. Also, mortgaging your intellectual assets can provide you with a loan to further invest in your business. Other approaches used by a lot of firms to get monetary benefits from their intellectual properties are direct funding and patent pooling.
Besides the economic benefits, intellectual property also gives organizations an advantageous position to enhance their brand reputation and build a loyal customer base for their goods and services. All these factors make your intellectual property vulnerable to a lot of shortcomings like theft, copying, plagiarism, and misconduct. Any of the given mishaps can have an adverse impact on the original creator or owner of the IP. Hence, it is crucial to be aware of the monitoring and protecting your intellectual property.
IPRs and Legal Protection
IPRs stand for Intellectual Property Rights and are a set of exclusive and legal rights to protect your intellectual property from any kind of infringement. Enforcement of these rights gives your intellectual property immunity in case of any breach or violation. Intellectual property rights are of diverse types, the most notable ones are copyright, patents, trademarks, and trade secrets.
IPRs ensure the protection of your intellectual property and help the creators gain licenses for their intellectual assets and monetize them further. It also forbids others from using and misusing the original assets. Intellectual assets sometimes are more valuable than physical assets and thus incorporating IPR for securing them will make you feel at ease to further move in your venture.
Even in the case of collaboration, the confidentiality of the IP is vital for the sustainable success of the firms. IPRs in businesses can provide a competitive advantage by patenting their unique ideas; it will enhance the brand integrity. Intellectual Property Rights are essential for the long run of any idea and even the execution of the ideas. It is imperative for the owners to have exclusive rights over their IP, and it will make sure that others will not be able to use them without the authority of the rightful creators.
Although, people have a broad choice for the protection of their creative ideas with the help of Intellectual Property Rights. It is not always easy to get the IPRs as the process itself requires little documentation as evidence. That is where MyIPR’s door should be knocked.
How MyIPR is involved in Innovation Protection?
MyIPR is designed to safeguard your creative ideas and intellectual property. The platform has a user-friendly interface to provide users with a hassle-free certification process. This certificate acts as evidence of possession while opting for IPRs or in case of any disputes or allegations.
Moreover, the application has timestamping technology which adds layers to the security. Blockchain technology offers a robust solution by securely collecting and timestamping evidence of IP creation, making MyIPR a secure platform for creators and businesses to commence their creative ventures in a safe environment. This application not only protects and safeguards the content but also streamlines it. Additionally, the platform has been devised with an algorithm mechanism that recognizes and detects the similarities in the patterns of the two or more works; making it more dependable and attested for the users.
Conclusion
From time immemorial, we have seen that no idea has remained home to just one person and there remains a chance of double discoveries. And in a lot of cases, original creators are not recognized for their work. Intellectual property too is vulnerable to these mishaps and thus it should be protected from being stolen or misused. IP not only ensures economical outputs but also acts as a driving force in many innovations and research-based works. At the same time, it provides competitive advantages and personal fulfillment.
This is why it is requisite for individuals and firms to protect their IP through Intellectual Property Rights and sustain the long run in both the customer and the economical premise. MyIPR works along the same path and provides users with the first step toward protection of their intellectual assets. It is built with a motto to enhance security and safeguard IP from unauthorized use.
For more information and queries, please visit MyIPR, a user-friendly application that will streamline your creation and will make sure to comply with the security of the content and creation.
