In the digital era, many companies are struggling to keep their intellectual property protections up to date, but one industry that’s still struggling is the music industry.
A new report from the Intellectual Property Rights Association (IPRA) has found that nearly half of all companies it surveyed don’t even have their intellectual properties policies up to scratch.
IPRA surveyed 1,000 U.S. music companies to find out if they have policies in place that protect their intellectual assets, and a large majority of those companies were able to point to a lack of any policy.
“There’s an urgent need to strengthen and update existing laws to protect intellectual property in the context of the new digital economy,” said IPRA President and CEO Rob Paine.
“We also need to keep the protection of intellectual property as an essential element of our corporate culture.
It is critical for companies to maintain and enhance their policies and policies to protect their proprietary rights and ensure that their employees and customers can be confident that their ideas and ideas are being used and licensed in a manner that meets their intellectual-property rights obligations.”
While many of these companies are still working through this transition, they are working to make sure they have a solid understanding of what’s required in order to keep them up to code.
“Our hope is that the best way to ensure that our intellectual property is protected is to be able to see it in the code,” said Paul Gossett, a senior vice president of legal and regulatory affairs for Sony Music, one of the most prominent companies in the industry.
“If you don’t have a policy, you can’t protect your intellectual properties.”
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