News in English     | 15.03.2018. 15:06 |

Gurry: Intellectual property protected by numerous international agreements

FENA Adriana Domazet

SARAJEVO, March 15 (FENA) - The Institute for Intellectual Property of Bosnia and Herzegovina and the Faculty of Mechanical Engineering of the University of Sarajevo organized a lecture by Francis Gurry, Director-General of the World Intellectual Property Organization (WIPO), on the topic "The Role of Intellectual Property in a Modern Economy".

“For example, if someone in BiH has an invention that he or she wants to protect in terms of ownership and intellectual property, they will certainly want to do it outside the BiH borders. We have a system through which you can apply on our website and it will be automatically implemented in more than 150 countries around the world. This makes the entire process simpler and cheaper,” Mr. Gurry said, emphasizing that around 250,000 global patent applications are processed annually.

He said they were also in charge of applying a number of international treaties that deal with the intellectual property segment, "which is about the 26 most important agreements that apply in countries around the world".

“There are several main reasons why we have the protection of intellectual property, and some of the key reasons is the economic aspect in order to provide incentives for investment, research and development, and certainly innovation. This stimulus is created by creating a framework for the protection of intellectual property rights for the very creator of an invention or the innovator, as well as for the invention or patent itself, which in turn gives the innovator the opportunity to benefit from it directly on the market,” Mr. Gurry stressed.

He said that this is crucial because information and inventions are things that can be easily reproduced, copied, so that at the time you create an invention, if you do not have a protected intellectual property over that invention, then anyone can freely use it without the innovator getting any compensation.

 

(FENA)
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