Social media has gained tremendous amount of importance in the present times. Almost all enterprises have a social media presence. In fact social media has nowadays become an important marketing tool for the companies. No firm can afford to stay away from this aspect if it wants to do better in the current scenario. However the firms need to take precaution not to violate the Intellectual Property (IP) of other firms while promoting their products or services. This is so because all firms in one way or the other touch upon or refers to the goods and services of other firms in order to market their products.

Social media has tremendous amount of reach with an ability to reach the masses with great speed. It does not take much of time for a massage to become viral and reach the nook and corner of the country or the world. This is another reason as to why the firms need to be really careful about their social media presence and their marketing strategy on the social media.

Few aspects the firms need to take into consideration are as follows:

• Being careful about not to violate the IP of other firms
• Being on the guard to take care that IP of the firms is not violated by other firms. Towards this goal, take measures to see that the IP is properly protected under the law.
• Go in for periodical IP Audit to ensure adherence to the aspects listed in a and b above.