Intellectual Property (IP) has become a currency in the era of the creative economy. In addition to encouraging the public to continue to work and innovate, IP can also drive and add value to the economy.
It was conveyed by Ahdiar Romadoni from Institute for Innovation and Entrepreneurship Development (LPIK), ITB, in a guest lecture session in the Technology-Based Business class, Bachelor of Entrepreneurship, on Thursday (21/10/2021). Ahdiar explained the importance of IP in the creative industry and how to manage it in a presentation entitled “IP management and commercialization”
IP is a product of human thought, which can be inventions, designs, names, written arts, scientific theories, and the practical application of an idea. “IP will later become the currency in the era of the creative economy. IP confirms the ownership of the work, then it also controls the use and determines the price of a work,” says Ahdiar at the beginning of his presentation.
Recognition of IP ownership serves to encourage people to dare to work and disclose it to the public. Ahdiar revealed that in the Middle Ages, every work was not recognized, so that people were reluctant to show their works and ideas and afraid that other parties would them. Therefore, the term Intellectual Property Right (IPR) arises, where each person’s work is legally recognized.
“IPR is an exclusive right granted by the state to a person or legal entity within a certain period for the disclosure of his work to the public,” said Ahdiar. He added that the IPR encouraged people to work and be willing to reveal their work to the public.
In addition, the IPR can increase the value of the product. With the IPR, the product’s price will increase because it gets legality from the state so that we can monopolize the market.
Therefore, Ahdiar emphasized the importance of IP management for the development and management of intellectual property. There are four main IP management steps: development, protection, supervision, and commercialization of IP.
Ahdiar also revealed several benefits of IP management for inventors, such as improving investor welfare, sustainability of research and development activities, increasing competition and reputation, and growing the industry, business, and economy.