Uganda capped off its National Intellectual Property Week by highlighting the strides it has taken to broaden the protection afforded to intellectual property (IP).
Uganda capped off its National Intellectual Property Week by highlighting the strides it has taken to broaden the protection afforded to intellectual property (IP) in the last few decades and the policy shifts it has made to bring its domestic law in line with global standards of protection. In particular, the Registrar General, Mercy K. Kainobwisho of Uganda identified necessary pillars for a well-functioning IP system, including a robust legal system, individual property rights recognized within the legal framework and the government institutions necessary to manage and own those rights.
The Registrar General also sympathised with the lack of growth plaguing the African and global markets and placed a spotlight on SMEs who are struggling but could also benefit the most from adequate protection of their IP.
In this regard, the Registrar General stated “[a] number of studies show that firms in general and SMEs in particular, perform better when they pay attention to their IP. It has been argued that IP can be used as a game changer for high growth of SMEs, startups even when there are younger and large firms,”. Ms Kainobwisha went on to say “IP rights are key economic assets in today’s knowledge economy. That is why SMEs need to build an IP strategy in the early stages of their development. Such an approach will enable them to leverage their IP assets for growth.”
This seemingly indicates Uganda’s further commitment to drive economic growth using the vehicle of IP rights and protection.