How is Intellectual Property defined by different entities?
Before one understand the meaning and importance of Intellectual Property, it is important to understand the meaning of the separate words which makes the phrase “Intellectual Property” so relevant in today’s world. The term “intellectual” is concerned with individuals who possess a distinct experience and intelligence and valuable insight and utilize it by applying their resourceful and creative minds for the sole purpose to bring about a change in the society.
Why is Intellectual Property important for everyone?
In this era of globalization, the business world is more like a jungle, a harsh environment in which only fittest survive. As the famous English naturalist and geologist Charles Darwin rightfully said: “It is not the strongest or the most intelligent who will survive but those who can best manage change.” The individuals or companies who can adapt to change survive the ruthless competition for a long time. Adaptability to change plays a key role in the success of an individual or a business. Every individual or a person is competing with another individual for getting ahead in the race for achieving success. There is absolutely no room for any error in order to prevail over your rivals. The stipulation for every person to keep moving ahead is to create or think of new ideas or thoughts which are purely original and genuine.