In today’s global innovation economy, the internet has become a revolutionary technology which is known to empower consumers and businesses alike with the blessings of connectivity at all levels. When it comes to E-Commerce, Intellectual Property (IP) is perhaps the most neglected, yet the highest value-bearing component either because it is less comprehended or its significant connections to E-Commerce aren’t evident. E-Commerce more than any other platform often involves the selling of goods and services that are based on IP and its licensing. Therefore, online businesses should make sincere efforts to ensure their activities are free from IP risks which might slow down or actually kill their businesses.
With the profound use of the Internet and technological infrastructure, Intellectual Property plays an important role in E-Commerce in the ways mentioned below:
In this digital era, copyrights play a significant role in safeguarding the creative content and information available on the websites. With rapid digitalization, the copyright owners seek Copyright Protection to prevent any unauthorized copying or distribution of their works presented online. Moreover, many technological prevention methods like Encryption and Watermarking can be effectively used to safeguard the IP rights of online businesses.
In the online world and E-Commerce, Trademarks have considerable importance to build a brand image by growing or selling the businesses. A Registered Trademark also makes it easier to take legal action and proceedings against brands that infringe on your business assets online.
Patents offer a considerable amount of incentives to the researchers and innovators in the arena of E-Commerce and online businesses. Patents help in licensing, contracting to outsource, and building strategic relationships involved in E-Commerce. Patents not only help in recording and developing new ideas for an E-Commerce business, but also boost up the sales of your products by giving them exclusive features unavailable to the other competitors in the online business.
In a nutshell, it can be noted that without Intellectual Property Rights, the fair compliance of activities and practices can never be achieved in such a dynamic and diverse world of E-Commerce and online businesses. With the rapid growth in technological inventions, IP rights help in safeguarding and maintaining the secrecy of trade activities, while providing the actual share of profits to the IP Right owners. Therefore, it will not be wrong to say that IP Rights stand as a protective guard to the activities of the E-Commerce arena whose rate of success is completely dependent upon the implementation of effective IP Rights measures.
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