Local Business

‘Enhanced intellectual property vital for growth’

THE enhancement of intellectual property is important for business development and job creation.
The Patents and Companies Registration Agency (PACRA) chief executive officer, Anthony Bwembya, said the enhancement of intellectual property rights is an important tool for the development of micro, small and medium-scale businesses and the creation of employment.
Mr Bwembya said intellectual property protection system was important in promoting creativity and growth of any economy.
Mr Bwembya said the development of intellectual property requires concerted efforts from all stakeholders.
He said the different players involved in the advancement of intellectual property, especially those that fund research, generate intellectual property assets and enforce intellectual property rights such as the courts of law, should effectively play their role in ensuring that Zambia has an effective system.
During a workshop in Lusaka yesterday, Mr Bwembya said to this effect, PACRA has established an intellectual property resource centre to help increase awareness on the value and establishment of field-related policies.
“It goes without saying that IP protection system is critical in fostering innovations and creativity. The exclusive rights it confers on creators provide an incentive for businesses and researchers to invest time and money in scientific and industrial research with the assurance that they will reap from the sweat of their labour.
“We are in a global economy where competition is no longer local. We therefore need to start generating new ideas and solutions to technical and scientific challenges. Unless we foster a culture of creativity and innovations, our businesses will continue lagging behind,” he said.
Mr Bwembya added that PACRA, under Ministry of Commerce, Trade and Industry, intends to cover industrial protection beyond patents, trademarks and industrial designs to layout designs of integrated circuits, among others.
He said service marks are important in the growth of amenities while geographical indications promote the development of natural products such as Mongu rice.

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