February, 2008: Intellectual Property (IP) and Intellectual Property Rights (IPR) are two distinctive features of any intangible assets. IP or the Intellectual capital refers to any idea, innovation, invention or creativity in the form of any art, paintings, literature, popular brand of a commodity or services and any form of technology. It has essentially three ingredients namely 1) identification 2) legal enforceability and 3) economic benefits. IPR on the other hand, refers to the legal framework by virtue of which protection is granted to any of such invention or creativity, in the form of patent, trademark, copyright, etc. An intellectual property right does not take the colour of Intellectual Property until it is commercially exploited and is able to generate some economic benefits to the creator of art or to the inventor of the technology.

Thus, we find that any IPR to become an IP needs commercialization. This phenomenal difference between IP and IPR can also be resembled as a gap between invention and investment, which is filled up by an expert tool of IP commercialization, which may help licensing or technology transfer by way of assignment of patent right, trademark or copyrights.

ITAG has developed an innovative scheme of IP broking, IP auction and has been rendering services by bringing together the inventors and the research institutions closer to the industry and the investors. ITAG has identified certain industries where innovation and inventions have taken place but the same has not been converted into legally enforceable IPRs. Similarly, it has identified the inventors holding legally enforceable inventions in the form of patents but has not been able to convert them into Intellectual Property and are looking for proper buyer or the investors who can pay for their creations. ITAG also has a team for proper IP evaluation in order to measure and quantify the economy benefits by several modern techniques of IP valuation.

We solicit your support in an endeavor to serve the society through knowledge management as technology partner.