{"id":7444,"date":"2021-04-26T21:21:42","date_gmt":"2021-04-26T20:21:42","guid":{"rendered":"https:\/\/thedailyleaks.com\/?p=7444"},"modified":"2021-04-26T21:21:42","modified_gmt":"2021-04-26T20:21:42","slug":"us-ambassador-highlights-importance-of-iprs-to-nigerias-sme-growth","status":"publish","type":"post","link":"https:\/\/thedailyleaks.com\/us-ambassador-highlights-importance-of-iprs-to-nigerias-sme-growth\/","title":{"rendered":"US Ambassador highlights importance of IPRs to Nigeria\u2019s SME growth"},"content":{"rendered":"

The United States Ambassador to Nigeria, Mary Beth Leonard<\/a>, on Monday urged Small and Medium-Sized Enterprises (SMEs) to take advantage of the Intellectual Property Rights (IPR) available to them.<\/p>\n

Leonard gave the advice on a panel discussion in celebration of the 2021 World Intellectual Property Day.<\/p>\n

The virtual event, hosted by the World Intellectual Property Organisation (WIPO) office in Nigeria had the theme: \u201cInnovation, IP & SMEs: Opportunities and Challenges for SMEs in Driving Nigeria\u2019s Economic Recovery.\u201d<\/p>\n

The protection of their intellectual knowledge, she said, could result in a sizable commercial advantage in the market place.<\/p>\n

She said that SMEs had prospects in foreign markets and understanding IPRs could be a link to their launch into the foreign climate.<\/p>\n

Leonard said that SMEs were the primary source of new jobs and income for the bulk of the population.<\/p>\n

According to her, they are also acknowledged as the critical breeding ground for domestic entrepreneurial capacities, technical skills, technological innovation and managerial competences for private sector development.<\/p>\n

\u201cSimilarly, American SMEs are the backbone of the U.S. economy with 28 million SMEs accounting for nearly two-thirds of new private sector jobs in recent decades.
\n\u201cIntellectual property rights are crucial components of SMEs most valuable assets,\u201d she said.<\/p>\n

She noted that an SME\u2019s brand logo, invention, software application, trademark or copyright might become the business\u2019s highest source of revenue.<\/p>\n

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Leonard, however, said that most SME owners in Nigeria did not yet appreciate the role of IPR in business development promotion.
\nShe said that as a result, they failed to take important steps including registering Intellectual Property (IP) to secure their interest in their intangible creations.<\/p>\n

\u201cThey may find IP to be abstract or lack information regarding the appropriate way to protect their businesses.<\/p>\n

\u201cOften, even those who have some knowledge may see the process as time consuming.<\/p>\n

\u201cThis shows that everyone has an important role to play in championing IPR and it is incumbent upon relevant government authorities to make this process less cumbersome and time consuming.<\/p>\n

\u201cIt is incumbent upon stakeholders to raise awareness and for enforcement agencies to do their part in securing those rights.<\/p>\n

\u201cNigerian SMEs working alongside other stakeholders can help shape the direction of Nigeria\u2019s growing knowledge based economy, which promises to significantly benefit the country\u2019s destiny,\u201d Leonard said.<\/p>\n

WIPO, a specialised agency of the United Nations, is the global forum for intellectual property policy, services, information and cooperation.<\/p>\n

In 2000, WIPO member states designated April 26, as World Intellectual Property Day with the aim of increasing the general understanding of Intellectual Property (IP).<\/p>\n","protected":false},"excerpt":{"rendered":"

The United States Ambassador to Nigeria, Mary Beth Leonard, on Monday urged Small and Medium-Sized Enterprises (SMEs) to take advantage of the Intellectual Property Rights (IPR) available to them. Leonard gave the advice on a […]<\/a><\/p>\n<\/div>","protected":false},"author":2,"featured_media":7445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,3,2,11],"tags":[1575,41,1576,1574],"coauthors":[25],"class_list":{"0":"post-7444","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-latest-news","9":"category-top-news","10":"category-women","11":"tag-mary-beth-leonard","12":"tag-nigeria","13":"tag-smes","14":"tag-us-ambassador-to-nigeria"},"yoast_head":"\nUS Ambassador highlights importance of IPRs to Nigeria\u2019s SME growth - The Daily Leaks<\/title>\n<meta name=\"description\" content=\"The US Ambassador to Nigeria, Mary Beth Leonard, has urged SMEs to take advantage of the Intellectual Property Rights available to them.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thedailyleaks.com\/us-ambassador-highlights-importance-of-iprs-to-nigerias-sme-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Ambassador highlights importance of IPRs to Nigeria\u2019s SME growth - 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