RETROSPECTIVE AND PROSPECTIVE VIEW- TOWARDS THE STRATEGIC MANAGEMENT OF INTELLECTUAL PROPERTY WITH SPECIAL REFERENCE TO INDIA.

Intellectual Property (IP) is referred to the creations of mind. It may be inventions, literary or artistic works names , images, symbols, designs used in commerce. The legal rights granted by the authority with the aim of protection of the various creations of the intellect are called “Intellectual Property Right” (IPR). These rights include Industrial Property Rights (e.g. Industrial designs trademarks and patents) and Copyright (right of the creator or /and author) and other related Rights (rights of the producers, performers and broadcasting organizations). In today\'s globalised scenario of expanding multilateral trade and commerce, it has become inevitable for any country to protect its intellectual property by providing statutory rights to the creators and inventors and thus help them fetch adequate commercial value for their efforts in the world market. Our country has also developed a national framework for creation and protection of IPRs, which is constantly developing and is pacing for matching with global standards. This research will provides an insight into the subject and seeks to go a step further by providing a new approach to innovation and IPR.It suggests an environment in which creativity and innovation can flourish. It aims to explore and tries to explain through the associations between Innovation and IP.