Intellectual Property a Growing Sector with Vast Career Opportunities

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Intellectual Property (IP) refers to the creations of the artistic works and symbols, literary and mind inventions, names, images, and designs, which are used commercially. Intellectual property is divided into two categories, namely Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source. Some other forms are copyright, which includes literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs. Intellectual Property is protected by law and like any other form of property can be a matter of trade, that is, it can be owned, bequeathed, sold, or bought. The primary features which distinguish these properties from other types are the ones involving the intangibility factor and consumption through non-exhaustion. This is what lays the foundation of an economy which is based on knowledge.

Such property pervades every economic sector. They are increasingly becoming imperative and ensuring competitiveness in the field. Intellectual property right is the executive rights bundle over creativity of mind, both commercial and artistic. There are copyright laws, which protect creative work that includes movies, books, music, photographs, paintings, and application software. It gives the holder of the copyright exclusive rights to control reproduction or adaptation of such works for a certain period of time. Industrial properties are typically created and used for industrial or commercial purposes. A patent can be granted for new and useful inventions. It gives the holder of this patent a right for preventing others from practicing this invention without the license, which can only be given by the inventor.

In a career point of view with Intellectual Property one can foresee the job of Intellectual Property Lawyer. There are many other jobs such as an IP Patent Specialist, Intellectual Property Paralegal, and Intellectual Property Assistant. Duties and Responsibilities can be in general terms such as preparing and filing new applications, amendments and responses, preparing assignments, and powers of attorney. The declarations, information disclosure statements, responding to notices to file missing parts with the US Patent and Trademark Office and preparing and filing PCT applications, monitoring, sorting, and prioritizing incoming documents are another feature involved.



Experience of a minimum of 2 to 5 years in this or similar kinds of sectors or jobs is mostly preferred Graduate of a recognized Legal BC Schools, Administrative Assistant or Paralegal program, or Law Schools. Also a Proficiency with MS Word, e-mail and database systems is required and the ability to work with the right attitude and the ability to work well in a team environment.

Many Institutes provide diplomas in intellectual property, so it is a good start a career in this field. There are also post graduate certification courses available in Intellectual Property. One should be able to generate information and knowledge required for developing strategies and methodologies of better IP management of a cluster of industries and a group of industries.

Credentials of the organization and constitution are an important factor while going for a job. Organizations particularly look for Core business and experience, technical and managerial capability, performance record in IP and related subjects, methodology, and work programs for the proposed assignment.

Nowadays intellectual property is increasingly becoming important for companies ranging from start-ups to large ones like Fortune 500 companies. While it is not always recognized, in almost every business there is some intellectual property. It may not be a lot, but some of the value of the company is associated with it. Perhaps the most inexpensive thing and the best thing that a business can do to protect its Intellectual Property is to have employees sign properly drafted employment agreements. Employment agreements are the foundation to establish the ownership of the business of the intellectual property.

The demand for specialized lawyers is increasing, while the percentage of generalists has begun to decline. The trend is moving towards small, specialized, and boutique firms. It includes areas like aboriginal rights, patents, international law, trademark and trade secrets, and cyber laws. Salaries in this field are generally commensurate, though a good amount can be expected.

The creation and adoption of new ideas, called innovation, is a very powerful factor that helps to determine the progress of modern economies. Economists have traced 30 to 40 percent of every US gain in the growth and productivity over the course of the past century involving economic innovations in different forms.

Today, almost two-thirds of the value of America's large businesses can be traced to the intangible assets that embody ideas related to this field. Promoting and protecting new Intellectual Property should be a high priority for U.S. policymakers. Employees of IP-intensive industries contribute 72 percent more than the ones from non-IP-intensive ones. These industries create jobs at a rate 140 percent higher than non IP-intensive industries.



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