Future Ready Organizations: Staying Ahead of the Curve

The 21st century is an era of knowledge and is fueled by the knowledge economy. The knowledge economy places a high value on innovation as major tool of economic expansion. The organizations who invest in education, research and development, and skill development will have a competitive advantage in this knowledge-driven era. The information and communications technology revolution has opened up new avenues for global connection, collaboration, and information sharing. In this knowledge era, creativity and innovation are essential for advancement, economic growth, and societal development. The concept of intellectual property rights (IPR) including patents, trademarks, industrial designs, geographic indications, copyright, etc. grants creators and inventors exclusive rights over their creations. The present paper discusses importance of building an ecosystem that fosters an innovative culture and ensures protection of intellectual property. After reviewing the journal articles and analysing the literature on innovation and protection of intellectual property the framework for making organizations future ready is suggested. The proposed framework highlights the stages and by going through these stages, organizations can systematically develop an innovative culture and implement a robust intellectual property strategy.