Intellectual property software is a computer code or software protected by law under either a copyright, trademark, trade secret, or software patent. Intellectual property software enables users and organizations to effectively and efficiently manage and protect their intellectual properties. When a software is treated as an intellectual property the owner of the software has more control over who gets to use it and how it gets to the public. Otherwise, people will use it without the permission and there is a chance to lose the money paid to the owner of the software or in extreme cases the owner of the software can also lose the software.
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There are four types of intellectual property right relevant to the software. These include patents, copyright, trade secrets, and trademarks. Patents, copyrights, and trade secrets are used to protect the software itself whereas trademarks do not protect the software instead it is the names and symbol of used to distinguish a product in the intellectual property software market.
Growth in application and awareness of intellectual property rights among the end users drives the growth of the intellectual property software market. Rise in demand for the secured and well-documented system within an organization fuels the growth of the intellectual property software market. However, factors such as complexity in maintaining software and high cost of investment, poor rate of awareness, and data security hamper the growth of the market.
Furthermore, advancement in the information and communication technologies and rise in awareness and adoption of intellectual property software across emerging economies such as India, are anticipated to provide major opportunities in the market.
The key players profiled in the intellectual property software market analysis are Aistemos, Innovation asset group Inc., Gemalto NV, IPfolio, Patrix AB, Anaqua Inc, WebTMS, CPA Global, Lecorpio, Gridlogics, and Leocorpio. These players have adopted various strategies to increase their intellectual property software market penetration and strengthen their position in the industry.
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