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Gone are the days when success is counted by how many houses, cars, or even wives or how many times you travel from one part of the continent to the other. Nowadays, success is mostly counted by the resources of your mind. The productivity of your intellect goes a long way to determine your success. In the times we are living in now, success is more about what cannot be seen. Success today depends on harnessing the power of human mind to create wealth. The 21st century is classified as an information (knowledge) age. The intellect (mind) is now considered as a major factor of production. Ideas and knowledge are an increasingly important part of trade/business.

I work in an Intellectual Property and Technology Transfer office of a Research Institute under the Nigeria’s Federal Ministry of Science and Technology. In this article, I will be introducing you to Intellectual Property. I will write about the other part – Technology Transfer. For today, let’s get reading and be inspired through it. I’m sure that at the end of this you will find a better reason to make use of your IP (for Intellectual Property from now on in this post).

Enjoy!!!

What is Intellectual Property?

Properties are classified as tangible and intangible. IP belongs to the intangible category. IPs are the creation of human mind. They are sometimes referred to as innovation, creativity etc IP is a major asset which if leveraged and managed effectively can contribute in increasing value of companies and wealth of nations.

IP is divided into

- Industrial Property i.e. Inventions – Patents, Trademarks, Utility Models, Industrial Design, Trade names, Geographical Indications etc
- Copyright and related rights i.e. Copyrights of – literary works (novel), Artistic works (sculpture), Computer programs, Performance of artists (Opera), films, musical works, books etc

Why it needs protection?

Just like any other form of property, IP needs to be protected from violation by other individuals or group of individuals. You need appropriate laws, system and enforcement mechanism and also competence on your own part in order to generate wealth from IP. These protections are called ‘IP rights’. The protection of IP serves as incentives for innovators. It also spurs human creativity. When you know that what you are creating can be protected from piracy, you will be eager to produce more. This confidence you have in the IP system acts as stimulus to creativity and innovation.

IP systems protect your manufacturing secrets exclusively for you alone. It is also of crucial importance for success in the marketplace. The protection of IP enables countries to participate actively and effectively in international trade. It makes countries like Nigeria amongst others competitive in the international trade.

When IP protection system is correctly in place in Nigeria amongst other nations, science and technology and other parts of IP will definitely develop positively. This will lead to the development of the nation’s economy. Effective IP protection stimulates creativity and innovation by providing reward for it.

Finally, for Nigeria to meet up with the Vision 20: 2020, we must put more effort in IP production and the protection of the same amongst other things that need to be done. We need higher levels of investment in IP and science and technology if we want to develop internationally competitive products as a nation. We need to promote social – economic development, development of national indigenous technological capacity. We need to generate export opportunities through the enhancement of the competitiveness of our products in the foreign market.

For more information about Intellectual Property, you can send me a mail with the subject ‘Intellectual Property’. For more information about how you can protect your own Intellectual Property, you can send me a mail with the subject ‘Intellectual Property Protection’

Remember, I work in an Intellectual Property and Technology Transfer Office. My contact details are as follows;

E-mail address: adesoji.adegbulu@gmail.com or iptto_proda@yahoo.com />Mobile no: 08069049993, 08027759051 or 08059791195

Also see http://www.thisdayonline.com/nview.php?id=122639

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