WEEK-7 

12 May 2022  22:21 

MANAGEMENT OF INNOVATION
CREATION OF IPR: 
1. There are always possibilities that you innovate something and
someone else takes benefit of it.  
2. IPR: Intellectual Property Rights 
3. Patents are one type of IPRs.  

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5. India is shifting from creating wealth using agriculture to manufacturing to

knowledge. IT sector is a good example of knowledge based economy. 

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7. Intellectual Capital: Value of firm - value of tangible things like machines etc. 

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9. We need to see that only relevant information or knowledge with the employees can be termed
as IC, Eg. An Employee of turbine manufacturing company possess knowledge about cricket is of
no use to the company and cannot be counted as IC.  

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13. For Creating ICs: These are step by step processes:  

 
 

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TYPES OF IPR: 
1. Industrial Property that has some tangible output. 
2. Copyrights are for creative ideas.  

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6. Trade secret like coca cola has a particular formula for it's drinks which is not disclosed to the
normal market.  

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PATENTS AND COPYRIGHTS: 

1. Patents and Copyrights are two very important types of IPs. 

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PATENTS IN INDIA: 
1. India is not much into IP, without IP innovation is not possible as,
our competitors will take advantage of our product.    

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