World Intellectual Property Day is an annual event that aims to raise awareness of the importance of intellectual property across the globe.
This year’s theme, IP and Youth: Innovating for a Better Future, looks at how young innovators are using their imaginations and skills to develop a smarter and more inclusive planet.
What is Intellectual Property?
Intellectual property (IP) is a creation of the mind that is put into a tangible format. These creations of the mind can take various formats such as copyright, trademarks, patents, design rights, and trade secrets to name a few.
World Intellectual Property Day is celebrated by all member countries of the World Intellectual Property Organization (WIPO) on 26 April every year.
Each year on World Intellectual Property Day, WIPO selects a theme for events to commemorate the date and to promote awareness about intellectual property and its role in encouraging innovation and creativity.
The aim of the day is to increase the general understanding of intellectual property rights and to celebrate creativity, bringing together creators from different fields such as music, literature, fashion, and design.
Why Intellectual Property Rights matters?
Around 60 percent of businesses surveyed in 2019 identified product imitation as one of their biggest threats.
Having strong protection over their intellectual property rights can help companies limit counterfeiting and piracy, making it safer for consumers when buying products online or through third-party sellers.
This can also help stimulate economic growth around the world.
