Authors : Mardiah Hayati Binti Abu Baka, Arizah Binti Mohamad Isa, Inul Hafiza Binti Zainudin and Wan Mardiana Binti Wan Musa
Abstract: Intellectual Property (IP) is a property and has similar values just like any other property. It concerns legal rights connected with creative works or commercial reputation and goodwill. The intellectual property proprietors can earn recognition or commercial benefit from what they invent or create. Within this conceptual study having the right balance between the interests of innovators that mostly comes from the educators and the wider public interest, the intellectual property rule aims to cultivate an environment in which creativity and innovation can boom. Intellectual property is driven to have the vital force as part of economic development notably if it is nurtured in the education system and other issue such as monopoly derives from the intellectual property rights. As part of an expansion of innovation, scholars need to inculcate the value of intellectual property via commercialization through the creation of competitive niche markets in order to gain lucrative return on investment in research and product development.
Mardiah Hayati Binti Abu Baka, Arizah Binti Mohamad Isa, Inul Hafiza Binti Zainudin and Wan Mardiana Binti Wan Musa, 2017. Economics of Intellectual Property in Education. The Social Sciences, 12: 85-88.