Intellectual property in the Digital Economy

Intellectual Property is the property that relates to the creation of the human mind. It can simply be explained as any property, including a product or process, that is created by the knowledge of a person. Intellectual property generally constitutes intangible property. This includes giving protection or a monopoly right to any person, whether the creator or owner of any product or process. The economy refers to the state’s production, supply, consumption, and the profit derived from these activities. The digital economy refers to the intersection of technology and the internet in the economy. With the growth of technology, the internet, and artificial intelligence, the state's economy and, by extension, the global economy have also expanded. This paper examines various aspects of intellectual property in the digital economy. The historical evolution of Intellectual property with the growth of the Digital Economy. Intellectual Property encompasses various aspects, including patent-related issues such as evergreening, pharmaceutical products, and biotechnology patenting, as well as trademarks in the context of digital branding, and Copyrights in the realm of data privacy and piracy. These are the different concepts of Intellectual Property analyzed in the paper.