26 April -World Intellectual Property Day

26 April is World Intellectual Property Day, as declared by the World Intellectual Property Organisation, a United Nations agency, in 2005.  Every year on this day, the value of intellectual property rights is highlighted to enhance the protection of these rights.

Intellectual property comprises many different rights that come into existence because of the creative efforts of individuals.  Once an individual has created something, it becomes essential to ensure that this creation remains the designer’s property � intellectual property - hence patent and trade mark registration.

These rights include trade mark rights, copyright in artistic, musical and literary works, design rights in functional and aesthetic designs and patent rights for inventions.

Whole industries have been built around intellectual property, like the cell phone and the computer industries.  The value of a business like Microsoft is in its intellectual capital, of which intellectual property forms a significant part.

Intellectual property rights have huge value.  To the innovator or creator they provide a mechanism to recover research and development costs and to reward ingenuity.  For consumers, a brand guarantees a certain standard and quality in the products purchased, which consumers need to distinguish one product or service from another.

Smith says that,as intellectual property has such great value, it is important to concentrate on protecting it.  “From a business perspective, consider obtaining registered protection for any trade marks, patents, copyright or designs that you develop.”

For those who do not protect their rights, there is a real business risk. Counterfeiting and piracy have increased.  Prosecution of counterfeiters and pirates has increased greatly, although probably not by the same margin.  Whilst South Africa has excellent laws to protect intellectual property, its enforcement record can still be improved. Without properly protected rights you are an easy target for counterfeiters.

“It is shocking that 20 percent of South Africans are quite happy to buy pirated CDs and DVDs, as found in a recent study by TNS Research Surveys.  These buyers give no thought to copyright or other intellectual property rights and make a significant contribution to the problem. “

“Each of us can make a contribution to stop counterfeiting and related crimes.  This includes not purchasing counterfeit goods and not contributing to the welfare of the crime syndicates that are involved in their sale.  Furthermore, if you see fake goods, report them to the brand owner or authorities so that action can be taken,” he says.

Intellectual property rights in everyday life

You wake up in the morning and put on PUMA trainers and NIKE kit to go for a run.  On your return you have KELLOGG’S cornflakes. The trade marks serve to guarantee the quality of the goods. Your toast is made in your PHILIPS toaster, which may enjoy design protection. You get into the shower and use PALMOLIVE soap and then brush your teeth with AQUAFRESH toothpaste before getting into your BMW car to go to work.  This vehicle uses technology that is probably made up of various inventions, for example in the braking system or fuel system, which may be protected by patents. The design of the body work could be protected by a registered design.

You listen to a CD of Westlife on the way to work.  The composers wrote the words and musical score for the CD and a photograph was taken for the cover.  These are all protected copyright works.

So your day goes on and you may well ask - what is the significance of all of this?

Each of the brands, designs, copyrighted works or inventions are protected in some way and connect all of us to a global economy.  Development in the world economy is dependent on those rights.  The granting of rights and the resulting rewards is the reason there is investment in technological development and product improvement

If no South African or global protection were given to these forms of intellectual property, would we continue to invest in new businesses, will motor vehicle companies continue to improve the designs and mechanics of motor vehicles and will pharmaceutical companies continue to search for cures for diseases? Probably not. Why invest when others will immediately reap the benefits of your investment? Intellectual property rights are essential to encourage innovation and reward innovation and so to improve our day-to-day lives.

For more information visit http://www.adamsadams.com or phone 012 481 1500.