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Altruistic inventors may choose not to patent, but put their invention into the public domain for all to share. This fine deed sometimes has the opposite effect, as without a guaranteed monopoly, companies may choose not to invest in commercialization of an invention, as they risk losing their investment to a better competitor.
This was allegedly the case with penicillin, whose inventor Alexander Fleming chose not to patent it, delaying its introduction to the market as a drug because companies were loath to invest in its productization.

Ownership of a patent portfolio is only an asset when it is managed properly. Perhaps a patent is sought, but never used, in order to prevent a competitor from bringing a new product to market. Perhaps a patent has been sought to protect an investment in commercialization of an invention, such as a drug. In both cases, infringement must be contested for the patent to have value.

Patents can also lull an organization into a false sense of security, as the revenue which is derived from a patent may eventually cease when the patent lapses and copies are permitted. Patents are potentially very valuable assets, provided they are appropriately managed.

Copyright protects the expression of an idea, not the idea itself. Protection commences when the expression is fixed in some tangible form, such as when it is written down. In some countries, for example the USA, copyright may be registered. The duration of copyright protection may vary from country to country, but in general it is for the life of the author plus at least fifty years. Copyright protection is generally given to literary works, motion pictures, choreographic works, pictorial, graphic and sculptural works and musical works. In addition, computer software can be protected by copyright.

Copyright is an asset as the work can be sold, distributed or licensed, generating wealth for its owner. Examples include books, whether the author may give a publisher permission to publish, market and sell the work in return for a royalty fee.

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* Contributed by: -
Dr. R. P. Verma,
Ex. H.O.D. & Dean, Commerce and Business Management Dept.,
Arabinda Bhandari,
Strategic Management Researcher,
Ranchi University, Ranchi.