Intellectual Property Rights (IPR) Management and Monitoring Framework for University Innovation Centre

With the advent of the knowledge economy, knowledge is the principal economic asset and its management and protection have become the cornerstones of an organization strategy. Due to the increasing importance of knowledge, private firms and public institutions such as universities, colleges and research institutes have discovered the importance of protecting and managing their intellectual property rights (IPR). The existence of strong competition amongst organization to create better performance has sparked the need for a strategic IPR management tool or mechanism to gain competitive advantage. This is no different for knowledge rich organization such as the universities where there is a need to improve the IPR monitoring and management to respond to the internal and external expectations. This paper introduces the concepts for managing IP through the IPR management and monitoring framework. This framework serves as a guideline to enable efficient IPR management tailored to the specific environment of the University’s Innovation Center that is responsible for managing IPR for the university.