{"id":19089,"date":"2022-05-10T17:19:27","date_gmt":"2022-05-10T17:19:27","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth"},"modified":"2022-05-10T17:37:49","modified_gmt":"2022-05-10T17:37:49","slug":"intellectual-property-promotes-economic-growth","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth","title":{"rendered":"Intellectual property promotes economic growth"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>MARIA NAMHINDO<\/p>\n

INTELLECTUAL property is a field of law that deals with property rights in intangible things, such as new innovations and business goodwill.<\/p>\n

There are many forms of protection, such as patents for inventions, the copyright for writings and other works of authorship.<\/p>\n

Intellectual property (IP) is a significant factor in promoting economic development.<\/p>\n

At the microeconomic level, patent, copyright and similar forms of IP protection provide a means by which innovators and investors can recover the investment of time and money needed to bring a new product to the market. At that level, IP promotes economic development by encouraging domestic innovation and foreign direct investment.<\/p>\n

The IP system also creates a framework in which developing countries like Namibia can participate in the economic activities of the developed world.<\/p>\n

Namibia has a clear development vision, elaborate national and sectoral development policies, strategies and plans aiming at enhancing socio-economic development, reducing poverty and improving the living standards of its people. However, little is made to integrate IP in addressing policy issues and ensuring the meaningful use of IP as a tool in meeting policy development objectives.<\/p>\n

This is moderately due to the lack of a national IP policy that would enable the use of IP to meet development goals and objectives, ensure policy coherence and provide guidance on issues such as negotiations at the bilateral, regional, and international levels, involving IP issues and matters that may affect the generation, protection and commercialisation of IP assets as well as transfer of technology.<\/p>\n

COMMERCIALISATION FOR GROWTH<\/p>\n

Namibia is a party to a number of international and regional IP and trade agreements (the World Intellectual Property Organisation and the African Regional Intellectual Property Organisation), which may support the use of IP as a tool for the development and enhance the competitiveness of local businesses and access to information for the development of all persons and safeguard the public interest through the Business and Intellectual Property Authority.<\/p>\n

Namibia has talented people and ethnic groups with diverse cultural resources that could provide a solid basis for the development and strengthening of the creative industry.<\/p>\n

However, the creative industry is weak due to a number of factors, including outdated laws that do not protect traditional cultural expressions such as folklore, which have been exploited with no return and recognition to local communities, and new technological developments that made reproduction and distribution of copyrightable works easy, cheap and fast as well as monitoring infringement and enforcement difficult.<\/p>\n

The aid and protection of IP rights drive economic growth by enabling products and innovations on the market in an exclusive fashion, by asking for a price premium.<\/p>\n

A price premium is money that is not necessarily involved in the cost of the product, which is money that can be reused to invest in new research and development. Intellectual property rights are not just essential, but a proven driver for all economies.<\/p>\n

The link between IP and economic development in Namibia must be assessed to raise awareness of IP in Namibia.<\/p>\n

Namibia has export potential regarding natural and cultural resources that can enhance the economy.<\/p>\n

Long-term economic growth is due largely to technological change and a strong intellectual property system also promotes foreign direct investment, which is an important means of access to private-sector technology.<\/p>\n

There are a number of areas where Namibia has a comparative advantage and the potential to boost trade and enhance economic growth using IP to produce most of the country’s wealth and traditional subsistence.<\/p>\n

IP awareness will further strengthen this position and maximise the advantages to be gained in this field.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. MARIA NAMHINDO INTELLECTUAL property is a field of law that deals with property rights in intangible things, such as new innovations and business goodwill. There are many forms of protection, such as patents for inventions, the copyright for writings and other works of authorship. Intellectual property (IP) is a significant factor in […]<\/p>\n","protected":false},"author":84,"featured_media":19088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[234,236,233],"class_list":["post-19089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nIntellectual property promotes economic growth - Namibia<\/title>\n<meta name=\"description\" content=\"MARIA NAMHINDO INTELLECTUAL property is a field of law that deals with property rights in intangible things, such as ne ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intellectual property promotes economic growth\" \/>\n<meta property=\"og:description\" content=\"MARIA NAMHINDO INTELLECTUAL property is a field of law that deals with property rights in intangible things, such as ne ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-10T17:19:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-10T17:37:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/05\/postQueueImg_14-627aa2be0df69.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Intellectual property promotes economic growth\",\"datePublished\":\"2022-05-10T17:19:27+00:00\",\"dateModified\":\"2022-05-10T17:37:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth\"},\"wordCount\":614,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/05\/postQueueImg_14-627aa2be0df69.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/intellectual-property-promotes-economic-growth\",\"name\":\"Intellectual property promotes economic growth - 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