The Tata Nano, dubbed as the people’s car, from the stable of Tata Motors is making headlines for the right reasons. Tata Motors has, as per a news report, filed multiple applications to protect their intellectual property related to the inventions and innovations in the design of Nano, with powertrain design alone having 34 (thirty four) applications. The design of Nano was incubated in Tata Motors’ Engineering Research Centre. It is understood that Tata Motors is also close to filing intellectual rights claims for Nano overseas. The company has used a number of new concepts and ideas to develop this vehicle and protection of IPRs will help in protecting some of the innovative ideas. Trade Analysts have lauded the efforts of Tata Motors to seek IPR protection in competitive markets as there would be a lot of awareness and sensitivity involved around technology and the manner of presentation. Specialists in IPRs have understood to have laid emphasis on the fact that given the efforts taken by Tata group in building the vehicle, strategic protection of the intellectual property involved in it shall be a very important focus area. Needless to mention that in today’s era of knowledge economy, IPRs have become a tool in formulating business strategy. Intellectual property as an asset is a crucial factor where the acquisition of larger market share depends on efficient technology and design of the product.

The space of developing better understanding of how to integrate intellectual property (IP) into business strategies has become imperative in today’s knowledge economy. The intellectual property system is a crucial element in enhancing business value. An intellectual property business strategy is a must for any company seeking to enhance and maintain its advantage in today’s highly competitive marketplace. The creation and sustenance value over time using IP as a strategic business asset provides for examining the linkages and integration of various components such as corporate business strategy, operations management, marketing, brand making, value extraction and transfer, finance, taxation and IP portfolio management.

IP has become a global, business-driven, dynamic and strategic tool for the business enterprises. Successful companies have realized it and they have leveraged the power of IP for value creation in the global market place. Fundamentally, the genesis of competitive advantage is shifting to intangibles, specifically intellectual property, so management needs to proactively utilize and leverage these assets if they want to sustain the advantages of investment and innovation.