World Intellectual Property Day, Message from Farukh Amil, Chairman of IPO-Pakistan

On World Intellectual Property Day 2024, 1 am optimistic to see the progress made by IPO-Pakistan to promote and protect Intellectual Property Rights. This year's theme focusing on SDGs resonates deeply with our commitment to leverage IP as a catalyst for achieving the SDGs in Pakistan.

The shrinking world is characterized by increased globalization together with ever-increasing competition and control of resources. In this tight space, disruptive technologies are increasing disparities between and within societies. Pakistan with its huge potential, abundant resources but with a growing population cannot vacillate. It must secure its place in the global economy. This can only be done with an enabling business environment that thrives on innovation, entrepreneurial spirit and opportunity creation especially for the youth.

With the strong emphasis on automation, it is critical to bring the window of opportunity online to the established business community and to innovators in the smallest villages to help them transform their ideas into viable, profitable enterprises. IP must be at the forefront of democratizing access for all citizens. Automation opens doors for all, irrespective of gender or location. Far-flung areas have immediate and equal access. This is at the core of development, driven by self-empowerment and the creation of opportunities previously denied.

IPO-Pakistan will continue to prioritize education and capacity-building initiatives to enhance understanding of IPRs among businesses, academia and the general public. The role of IP is critical in national development and national economic security. Increasingly dependent on technology in all walks of life, the value of innovation and creativity becomes vital. Equally, the protection and promotion of national resources becomes crucial to harness national wealth. This can only take root and flourish if a strong IP system is in place. A stable IP environment becomes a magnet for future creativity and innovation and provides opportunities for the youth. There has to be a grass roots awareness of the potential of IP at the school level. Incorporation of IP into the National

Curriculum will develop the mindset of coming generations.

Adherence to global standards on IP, through international treaties and societal practices will enhance Pakistan's reputation as a country serious about following international norms and will be seen as an investment-friendly destination with a strong enforcement regime.Over the past year, significant milestones have been achieved by IPO-Pakistan: increased awareness of IPRs and their importance among diverse stakeholders and joining the second major IP Treaty, the Marrakesh Treaty.

Whilst development has to be geographically horizontal, it has to be societally vertical. Equally, development cannot be sustainable when the rural-urban divide persists, development disparities increase, which in turn have profound effects on Human Dignity. That is precisely why knowing ones' IP Rights is an opportunity driver and equalizer.

Happy World Intellectual Property Day to all!

Copyright Business Recorder, 2024