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Aurangabad, Jan 21:Due to increasing competition, businesses need to know the value of Intellectual Property (IP), its laws and use it for business growth, to generate profit, said Tanmay Mittal, head of IP Solutions in India, gave guidance on IP law and its importance.He was speaking in a seminar on 'IP Due Diligence', jointly organized by the Marathwada Accelerator for Growth and Incubation Council (MAGIC), Tata Technologies and European Business Technology Center (EBTC) under the 'Thursday Talk' series. Mittal said that in order to conduct business in Europe or any country in the world, it has become important to study the IP law of that country, verify your ownership, investigate third party claims and evaluate potential IP infringement. IP due diligence is important in the process of a company merger and acquisition, investment or IP mortgage, helping to restructure the company process to improve the sales ability of the company's products or services. This helps to increase the value of these intangible assets to improve the company's balance sheet, he said.Second seminar on tax breaksThe next part of the event, which takes place every Thursday, will include a workshop on tax breaks and overseas fundraising on January 27. Magic has appealed to participants to register at bit.ly/tmihatip to participate in the event.

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