Intellectual Property Aspects of Defense Conversion

Abstract

It is a recognized fact in the areas of commerce and business that intellectual property has significant economic value. Therefore, the rights associated with intellectual property are important, valuable business assets which can be sold, assigned, and licensed like any other business asset. As a result, intellectual property rights form the central part of many business transactions. It is important, because of the value inherent in intellectual property rights, that intellectual property be protected as it is developed and employed in products or services. It is also important in the increasingly competitive world market that the holder of intellectual property right maintain awareness of the marketplace in order to aggressively prosecute infringement of its intellectual property rights and, at the same time, ensure that it is not infringing on the rights of others.