Impact of intellectual property on company performance in the information technology industry in India

Abstract

Besides adding to existing body of knowledge, the findings of this research study have several newlinepractical implications for the Indian IT industry and other service based industries. Briefly newlinesummarizing the recommendations, it can be inferred that intellectual property and its rights newlineshould be used as a strategic tool by top management to differentiate their products and services newlineto compete effectively in the marketplace. Intangible assets substantially contribute to top-line newlineand bottom-line of a companyand#8223;s business operations and therefore it should be treated as a core newlineand strategic business activity and not relegated to non-core departments. Separate IP department newlineshould exist in organizations with appropriate manpower and other resources and an independent newlinebudget for IP creation and management and legal enforcement against infringement. Company IP newlineaudits should be done at regular intervals to take stock of all the intangible assets owned by the newlinecompany. Companies should put robust systems in place where innovation by employees is newlinerewarded and incentivized. The need of the hour is for Indian IT companies to focus on bringing newlinenew IP-based software and hardware products in the Indian and global markets newline