A Study of Management of Intellectual Property Rights-Special Reference to Music Industry

Intellectual Property is a strategic asset for industry and public health. It is a key element needed to maintain a competitive edge in the market. For Business growth of any enterprise, it is important to protect the innovation and ensure that IP rights of any third party are not infringed. At one time it was easy for the music industry and artists to keep control of their intellectual property. Records were sold and Royalties could be taken from a share in that sale. Radio broadcasts were easy to monitor and royalties were received whenever a certain track was aired. As technology has progressed, legal questions have been raised as how to enforce copyright law. The growth of the internet and digital communications has fundamentally changed the way we acquire and listen to music. This paper is simply an attempt to study how the music industry is abled to stop the piracy or not?.