The relationship between big data and IPRs is sensitive as in our haste to leverage big data we may consciously or subconsciously infringe upon IPRs.
Intellectual property is anything that comes into existence with the assistance of human intellect. Inventions and industrial designs are some of the areas that come under intellectual property. Intellectual property also exists for the media and entertainment sector, such as movie scripts and song lyrics. According to Article 27 of the universal declaration of human rights, every person has the right to benefit from their creation. According to statista, 49% of people from the age group of 16-24 agreed to access copyright infringement to music. In today’s digital age, information is flowing in from many sources and are in different formats. Big data analytics’ applications are numerous and are assisting organizations for several purposes. But At the same time, the same information is making big data a cause of IPR violation. This sensitive relationship between big data and IPRs is a hot topic of debate and discussion among industrialists and business heads.
In the age of big data where information is readily available and analytics assists organizations with intuitive insights, safeguarding confidential data and intellectual property is increasingly important. Protecting IPRs is vital as it assists in setting your business apart from its competitors, enables you to offer new and different-from-the-market services, and empowers your business’ marketing strategy by offering new tactics.
There are numerous reasons for having IPRs as it helps your company in safeguarding your ideas. When an organization has a plan that holds the ability to increase your popularity, competitors and hackers would want to copy the same and make profits. When competitors get insights into your ideas, infringement of IPRs occur and your organization does not get cuts due credit, not to mention the legal battles that ensue. Such infringement of intangible property leads to loss of revenue and market share.
In today’s age, numerous companies are leveraging big data analytics in various ways to obtain actionable insights from the information held by them. Amidst this, protecting intellectual property is done with the help of patenting, trademarking, or booking copyrights. By using these measures, intellectual property is safe against any unwanted usage by an individual or an organization as a whole. Remember, IPR infringing often occurs with the assistance of big data analytics when the intellectual property lacks a patent or a trademark.
Businesses should learn how they can positively use big data and avoid any infringement of IPRs. Authorities can also search for ways through which they can set rules for analyzing any information, ensuring the maintenance of IPRs and staying away from unwanted lawsuits. For instance,
HR can leverage big data for hiring individuals to assist them in using analytical software in a manner that supports recruitment professionals in efficiently managing the sensitive relationship between big data and IPRs.
Naveen is the Founder and CEO of Allerin, a software solutions provider that delivers innovative and agile solutions that enable to automate, inspire and impress. He is a seasoned professional with more than 20 years of experience, with extensive experience in customizing open source products for cost optimizations of large scale IT deployment. He is currently working on Internet of Things solutions with Big Data Analytics. Naveen completed his programming qualifications in various Indian institutes.