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With the explosive growth of internet technology, many innovative applications requiring exchange of large amounts of multimedia data have become feasible. However, this kind of convenience with which authorized users can access information, turns out to be a mixed blessing because of information piracy. The emerging field of digital rights management (DRM) systems addresses the issues related to the intellectual property rights of digital content. In this paper, we present a novel invisible watermarking method that uses cryptography and watermarking methods simultaneously to provide a double layer protection to the digital media which can be an effective technique for DRM. Our proposed method securely hides binary information in color image media, and securely extracts and authenticates it using a secret key. Experimental results prove that our proposed invisible watermarking techniques is resilient to 90% of the well known benchmark attacks and hence a failsafe method for providing constant protection to the ownership rights.