Entrepreneurship:
The term entrepreneurship, even today is taught as a risky journey in many business schools and colleges teaching MBA courses. Entrepreneur is almost in every place considered to be a risk taker and always loaded with huge emotions of fear and failure factors.
The scenario above has raised out of the previous generation where numerous Indian businesses failed in comparison to the MNCs and numerous conventional businesses also failed over competition. It was the times when IPRs were least taught and 1/10,00,000 would have been aware of the option.
Today the scenario has changed. The conventional road for entrepreneurship was linear from Innovation to Business; whereas today’s road for entrepreneurship is knuckled firmly on the term Patent which holds the innovation as well as the business as its two ends making a triangle coined to be IPB Triangle (Copyright of Allinnov). Not just patents, the different IPRs such as Copyrights, Trademarks, GIs, Designs etc., provide protection to every innovation and business from counterfeiting and competition enabling the creator and the entrepreneur to successfully launch and run the business while others willing to compete shall legally obtain the license from the creator and work in harmony within legal boundaries.
Entrepreneurship through IP is no more a journey on risk and entrepreneurs no more need to be termed as risk takers. IP gives them all protections in their success journey.