Intellectual Property is a compendious term referring to legal rights & obligations relating to products of human mind that have value in marketplace. Intellectual Property Rights cover intellectual outputs, including inventions, publicity material, art works, literary works, manuals, documents, engineering, manufacturing designs, processes, chemical formulae, logos, computer hardware/software; all that determine long-term sustained competitive success of an organization. IPR & its Management are fast changing & developing fields. IPR laws are changing & developing, thanks to international treaties. Rapid technological developments also lead to growth in patenting and other forms of IPR protection. Management experts, lawyers, consultants, managers & business owners are grappling with the challenges of managing & exploiting IP assets that are growing in value and complexity to ensure sustainability of organizations. This paper outlines IP as a tool for sustainability of an organization.