Author: Professor Adebambo Anthony Adewopo
Abstract: Current developments in the global economy have brought about the ascendancy of intellectual property (IP). The brick-and-mortar economy is being replaced with that of ideas in which intellectual property (IP) has become one of the major currencies. In the new global economy, wealth is generated through creating and harnessing the value of knowledge. This is the concept of creative enterprise crystallised in the ‘harvesting of ideas and innovation. Throughout the history of human civilisation, both material and intangible assets have always formed the constituent of wealth. Today, however, knowledge forms the greater part of the new wealth2 . Consequently, intellectual property rights, the results of the industry of innovation have continued to play a leading role in the wealth of nations. Intellectual property (IP) rights have continued to play a leading role in the development of most countries and regions of the world. Europe and North America have fully apprehended the dynamics of intellectual property and inexorably driving developments in the global and international arena. Other regions like South America and Asia are responding in measured steps that underscores the role of intellectual property in the current pursuit of national, regional and international initiatives. Consequently, different nations have standards of protection of intellectual property. The recent trend of globalisation strengthened by several multilateral and regional treaties further creates some international minimum standard for intellectual property protection. In Africa, intellectual property issues are assuming central stage in discussions on development of the continent.
Related Regions and Countries: Nigeria, South America, Europe, North America, Asia
Number of Pages: 14
Keywords: Intellectual Property, Law