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Intellectual Property has gained tremendous importance in the new world of globalization and free trade where innovative and inventive thinking are the key tools in business success. India’s Intellectual Property Rights (IPR) is showing signs of resistance to quick enforcement of international intellectual property rights (IPR) protection laws as demanded by the developed countries like the United States and UK. It must be acknowledged that there has been a remarkable progress in IPR protection especially in the field of software, Pharma and cinema products in India.

Protecting intellectual property assets of IP intensive companies is one of the most important issues standing at the forefront of the entire company’s management strategy. This is because IP intensive industries generate growth primarily from capitalizing on their trademarks, patents or trade secrets. This poses many challenges causing corporations to invest millions into IP protection and litigation to be able to save their strategic assets to sustain current revenue streams and enable long term return on IP investments therefore, IP is the foundation of a knowledge-based economy. It pervades all sectors of the economy and is integral for ensuring business competitiveness.