Intellectual property (IP) revolves around trademarks, patents and copyrights. It has become very important for businesses and multinational organisations to safeguard their intellectual properties in this fast-paced digital world. Hence, World Intellectual Property Day is observed every year on April 26 to spread awareness about the role that intellectual property rights plays in innovation and creativity and how patents, copyrights, trademarks and designs impact our daily lives. On this occasion, let us look at a few facts about the World Intellectual Property Day.
- It was in October 1999 that the General Assembly of the World Intellectual Property Organization approved the idea of observing one day as the World Intellectual Property Day.
- In 2000, the WIPO declared April 26 as an annual World Intellectual Property Day to help address the gap between the IP as a business or a legal concept and it’s bearing on people’s lives.
- Intellectual property refers to intellectual creations such as inventions in various subjects such as science, literature and art; designs, symbols, names and images used in commerce.
- World IP Day offers an opportunity for all to consider how intellectual property rights enable the technological innovation and thereby drives human progress.
- Inventors such as artists, musicians, actors, producers and many others meet and discuss how intellectual property rights can contribute to the world on this day.
- This year’s World IP Day theme “Reach for Gold: IP and Sports” dives into the world of sports and explores how innovation, creativity and the IP rights support the development of sport and its enjoyment around the world.
- Today, sports has become a multi-billion dollar industry employing millions of people around the world.
- The sports businesses use patents and designs for development of new sports technologies, materials, training, and equipment.
- In the sports industry, the corporate relationships built upon the IP rights help in securing the economic value of sports and it also enables sporting organisations to finance the events.
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