Intellectual property should be a daily business choice since it is so valuable, yet more and more institutions still don't understand how important it is. People don't always fully understand Intellectual Property and how valuable it is. In today's economy, which is becoming more and more knowledge-based, IP is an important factor in everyday business decisions. This is because new ideas and products come out virtually every day, which leads to ongoing research and innovation. So, this article will talk about how important IP is for universities of technology. It will also show how IP can be used as an economic tool and the problems these universities have when they try to set up an IP system.
Balaji et al. (2025) studied this question.