Experts have urged the Federal Government to protect intellectual property (IP) rights to boost the nation’s economy.
They said its role in economic development in emerging markets like Nigeria remains unexplored or broadly misunderstood.
According to them, an increasing number of policy-makers are beginning to recognise the important role of the IP system in encouraging private investment in research and development, especially in the industrial and scientific fields.
They spoke at a media briefing on a workshop with the theme: “The dynamic role of Intellectual Property in promoting innovation and economic development in emerging markets”.
Sponsored by Pfizer Pharmaceutical Company, and others, the event will hold from July 14-16 at the Four Point by Sheraton Hotel in Victoria Island, Lagos.
One of the organisers, Uwa Ohiku, said intellectual property should be handled at the policy-making level of government, especially when trade agreements are signed.
According to her, the government was culpable in the signing off the IP rights of Nigerians and companies.
She said: “The textile industry is gone because its IP was not protected. The Chinese came and copied some of designs, which originated from the country, and made it theirs. Today, they sell cheap fabrics of our designs. This happened because nobody is protecting the country’s IP.”
Ohiku called for a review of laws on IP, adding that the government must be more involved. “When there is no executive understanding, where do we stand? The policy makers do not even understand it,” Ohiku said.
South Africa, she added, was making money from IP because it knew its benefit to the economic, adding that people have not been benefitting from traditional knowledge (TK) because they were only interested in inventions, but did not protect them.
“The TK, especially on adire (tie and fabrics), which originated from Ogun State should be money spinning,” she said.
Director, Corporate Affairs, Health and Value, Pfizer Nigeria East Africa Region (NEAR), Margaret Olele said her organisation’s involvement was borne out of the need to protect “what is important to the society”. It is also a bid to help fight counterfeiting.
“Also, we look at what affects us in the environment and not just in the pharmaceutical sector alone. We are not satisfied until our products get to the patients, who are the end users,” she said.
Olele said Pfizer would continue to partner with other companies to ensure that the IP rights are protected.
Director, Regulatory Affairs, Pfizer Bunmi Femi-Oyekan said: “The issue of infringement and counterfeiting is important to us. As a company, we try to strengthen the security of our products. However, this is not easily achieved because counterfeiters are very good at what they do. Hence, we support the regulatory agencies.”
A co-organiser, Mr. Obafemi Agaba, said advanced countries took the issues of IP seriously, adding that South Africa has a functional IP policy in place. This, he noted, has helped to make some of its global brands.
“President Barrack Obama appointed an IP adviser into the Office of President of United States because he understood its importance to the economy,” he said.
He also wants a review of the Patent Act, which he said was passed down by the colonial masters.
In a statement, the organiser, Anadach Group, said: “This workshop will examine the current and potential contribution of IP protection in growing local economies.”
It said it will address the economic benefits of IP e.g. GDP, employment, tax revenues; IP’s role in promoting innovation e.g. in the technology/mobile phone industry, film industry; tts role in quantifying innovations in small to medium enterprises (SMEs) to secure investments, grow market value, and leverage new markets.