Page 53 - QUEST-IP (Final)_Neat

Registration of Intellectual Property Rights allow individuals a way
to protect their ideas, expressions and other unique creations of their
intellect. It allows businesses to protect their distinct marks associated
with their goods and services, research and development activities and
creates a strong position for them to negotiate in the event of licensing
and addressing counterclaims. It further allows businesses to build
value in the competitive market. Depending on the type of business,
the IP rights should at first be ascertained and all necessary activities
in protecting the same should be undertaken. Where IPR of businesses
are already protected, businesses should consider entering into special
arrangements (i.e. NDA, Confidentiality Agreements, strenuous IPR
clauses stipulated into the pre-existing agreement, etc.), to ensure
protection of their IPR in the event of sharing the same with third parties.

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