Managing Intellectual Property

: Ideas must be converted to knowledge before they can be
put to use. The production of knowledge is embedded in the form of patent, artefact, design, software, composition, products and their improvements.Such knowledge is not fully appropriated because people move, it is shared and there are spill-overs. Knowledge markets are rare and acquisition of knowledge involves high costs. To help the dissipation of knowledge, several government organizations and NGOs are investing huge amounts to codify knowledge, making it accessible through networks. We are moving towards a situation where speed would matter and response times would move towards zero and protection of such
knowledge would become necessary evil. This paper aims to discuss the importance of intellectual property management. The, paper presents some IP management strategies followed by CSIR. To illustrate the importance of IP management, the paper presents a case study of the crusade against Ricetec Inc. USA by the Indian government and CSIR to protect the traditional knowledge related to Basmati rice.