How important is it to exploit one's intellectual property?

Many seem to know, what is Intellectual Property? Different intellectual property rights and what all can be protected through those rights. However, very few seem to know what to do with it. Are we to keep it in the cupboard and forget about it? On the other hand, should we boast about possessing an IP?

Most commonly, IP right holders say to themselves, "Thank God I have registered my IP, no one can copy now. If anyone copies I will drag them to court".

Well, it is important to protect IP from infringers and safeguard your IP. Nevertheless, that is not its only purpose. I would say if IP’s are not exploited it is equal to an abandoned house.

A house for example, can be sold, mortgaged or could be given for lease and income can be earned. Similarly, IP can also be licensed, pledged or assigned and income can be earned.

No owner of a house would wish to keep it locked if he knows that it will fetch decent income. Therefore, all IP holders should recognize that IP is capable of generating revenue and should exploit to the maximum. In others, words should be treated as a valuable asset.