ABSTRACT

IPR
Edvard Manukyan

BUSINESS LAW IN A DIGITAL CONTEXT

Activity 7
Why are IPRs an asset for a company? How can you protect your IPRs? How can
IPRs and Open Science co-exist?

An asset is a valuable resource that is privately held by a person, company, or country in the
expectation that it will be beneficial at some point in the future. Therefore, we can assume that
anything that can make you a profit or money can be considered as an asset. We should keep in
mind that IPR is reported as an intangible asset in balance sheet. Companies can protect their
R&D operations and identity management techniques by securing the rights and registrations to
their intellectual property. If a company does text, artwork, drawings it can license it with
copyrights. Trademarks are used for products and services that use names, symbols, and logos.
There are different types of trademarks that are used to identify goods and services that belong or
are being produced by the same source. For the most part, patents are used to protect new and
inventive ideas, products, and processes that are not yet widely available to the public. Obtaining
a patent requires the disclosure of the invention's technical details to the public in a patent
application (19 Different Ways to Protect Intellectual Property, 2021). Open science is beneficial
for everyone, since it is contributing improvements without violating IPRs laws.