Intellectual Property Rights for Startup Business Management

On 22.04.2024 a Guest Lecture on "Intellectual Property Rights for Startup Business Management” was organised by Entrepreneurship Development Cell and IIC in association with the Department of Master of Computer Application. The session was handled by Dr. V. Sangeetha, Assistant Professor, Francis Xavier Engineering College at Tirunelveli at 1.30 PM – 3.30 PM. 41 students and 1 faculty participated. This event was coordinated by Mrs.M.K.Subbulakshmi AP/MCA. This event was conducted with the guidance of Dr. Lourdes Poobala Rayen, EDC Director.

The event began with an introduction from Mrs. D. Angeline Ranjithamani, Head of the department of MCA at Francis Xavier Engineering College. In her introduction, she pointed out the key focuses of the event: business innovation, new businesses, and fostering imaginative thinking. The speaker started her speech by explaining the Intellectual Property, how it implemented in business when it comes to startup business strategies and intellectual property rights. It's crucial to understand the importance of safeguarding your innovative ideas and unique approaches. Essentially, intellectual property (IP) refers to creations of the mind, such as inventions, designs, symbols, and even names used in commerce. Now, for startups, IP can be a game-changer. It can give you a competitive edge, attract investors, and protect your innovations from being copied.

The guest speaker explained the IP protection available for startup business strategies. Patents are important for the startup and it provides protection to the business properties. Guest speaker spoke about trademarks which provides brand identity. It is the business's face in the market. It is in the form of logos, names, slogans, or even sounds associated with your product or service. Registering the trademarks helps to prevent others from using similar marks that could confuse customers.

Copyrights come into play when the startup creates original works like software, written content, music, or artwork. Copyright protection gives the exclusive right to reproduce, distribute, perform, or display the work. Registering copyrights provides additional benefits, like the ability to sue for infringement. Trade secrets are another valuable form of IP protection. These are confidential information that gives your startup a competitive advantage. It could be anything from formulas and algorithms to customer lists and marketing strategies. Keeping trade secrets secure is vital, so consider implementing robust confidentiality measures. The discussion evoked good response among the participants and they interacted with the guest speaker.