UKZN Celebrates World Intellectual Property Day
World Intellectual Property (IP) Day is observed annually on 26 April. This year, it highlights the importance of IP rights in creating more competitive businesses, and building and growing stronger SMEs under the theme: Intellectual Property (IP) & Small and Medium-sized Enterprises (SMEs): Taking your ideas to market.
Established in 2000 by the World Intellectual Property Organization (WIPO) member states, this day seeks to increase the general understanding of IP knowledge.
To celebrate World IP Day, UKZN InQubate, the University’s technology transfer office, in collaboration with Spoor and Fisher Attorneys will be hosting a webinar focusing on copyright protection on 7 May 2021.
Through understanding the benefits of IP, SMEs can use: patents to protect their innovative products or processes and give their business a competitive edge; trade secrets to preserve their competitive space; trademarks to guarantee their quality and help differentiate their products or services from those of their competitors; and industrial design rights to safeguard the aesthetic aspect of their product (www.wipo.int/sme/en/).
In line with managing their IP assets, SMEs are advised to perform an audit to determine the potential IP that exists within their company. They are encouraged to recognise the economic value of IP assets by conducting an IP valuation as such information is useful when dealing with various transactions including licensing, sale, donation of IP rights, joint ventures and other collaborative deals (www.wipo.int/sme/en/).
Speaking to this year’s theme Mr Daren Tang, Director General for the WIPO, noted that SMEs make up 90% of all companies worldwide and are responsible for 70% of global employment: ‘SMEs are the engines, the unsung heroes of our economy. Yet many still lack knowledge about how IP can help them translate their ideas into products, and how it can be a powerful tool not just to survive, but to also compete and grow.’
Join UKZN InQubate, in collaboration with Spoor and Fisher Attorneys on 7 May 2021 to learn more about IP rights and how they impact your invention and business.
Register for the workshop on the following link:
Words: Hlengiwe Khwela