Protection Of Intellectual Property Rights In The Indian Corporate Sector: Challenges And Solution
- IJLLR Journal
- May 15
- 1 min read
Aditya Deep Verma, B.B.A. LL.B. (H), Department of Law, School of Legal Studies, Babasaheb Bhimrao Ambedkar University, Lucknow
ABSTRACT
In today's knowledge-based economy, Intellectual Property Rights (IPRs) have emerged as critical tools for fostering innovation, securing competitive advantages, and driving economic growth. This article examines the growing importance of IPRs within the Indian corporate sector, highlighting how they empower businesses to safeguard and monetize intellectual assets across industries such as pharmaceuticals, IT, biotechnology, and entertainment. Despite legislative progress, India faces persistent challenges including low IP awareness, weak enforcement mechanisms, rampant counterfeiting, and procedural inefficiencies. These issues are particularly detrimental to MSMEs and startups that lack the resources to navigate the complex IP landscape. The article explores comprehensive strategies to address these challenges—ranging from enhancing IP education and streamlining registration processes to strengthening enforcement, promoting commercialization, and aligning with international frameworks. By adopting a holistic and forward-looking approach, India can build a robust IPR ecosystem that fuels innovation, attracts investment, and positions Indian businesses as global leaders in the digital age.
