- Intellectual property services are specifically designed to protect the rights & privileges of the intellectual property (IP) owner. Intellectual property services provide the user with a quick, effective, and cost-efficient route to protect the user’s trademarks, inventions, or designs across borders.
- Intellectual property services are increasingly adopted by end-users to protect and develop a brand, protect exclusive tenure of their creations, and keep their work private and confidential to maintain and create an advantage in this competitive world.
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Growing emphasis on managing and protecting intellectual property driving the global intellectual property services market
- The management and development of intellectual property has become a major concern for private enterprises, specifically in cultural, artistic, and technology applications. Equitable and efficient intellectual property services can help organizations understand the intellectual property’s potential as a catalyst for cultural and social well-being and economic development.
- Intellectual property assets fuel economic development in numerous ways. Many companies can gain royalty incomes from licensing their IP assets to other parties. For instance, According to the World Intellectual Property Organization (WIPO), the U.S. has earned licensing revenues of approximately US$ 30 Bn from overseas. Similarly, Japan, followed by the U.K. earned US$ 5 Bn to US$ 10 Bn from licensing their IP assets.
- Therefore, organizations emphasize on managing and protecting their intellectual property. Protection for any intellectual property is granted for a restricted period of time, usually 20 years. Thus, growing emphasis on managing and protecting intellectual property is driving the global intellectual property services market.
