If intellectual property (IP) rights are not protected and adhered to, then the development that the globe is experiencing especially in the world of economy and technology will collapse. That’s why people like professor Kamil Idris are standing out to ensuring that the IP rights are protected otherwise the global economy will run into chaos.
Having served as the Director General of the World Intellectual Property Organization (WIPO) which is headquartered in Geneva, Professor Kamil Idris has a vast knowledge when it comes to intellectual rights. According to him, knowledge, information, and ideas are the real drivers of any economic growth in any country. This means if these three resources are not protected then the collapse of the economy is guaranteed.
Globalization has been a major factor that is affecting IP rights. There have been pitfalls like piracy, counterfeiting, and backlogging especially when it comes to processing of the patent applications. All these calls for training and thorough education on matters of that revolve around IP rights. According to the professor, the communication revolution has also caused a great harm to IP rights where it has caused the distribution of fake materials and increased piracy.
Professor Kamil Idris says that the Advisory Committee on Enforcement (ACE) at WIPO has been on the forefront of offering legislative advice on matters related to IP. WIPO has been organizing training programs, seminars and workshops to drive the dominant ignorance of IP rights. Though improved communication and globalization are creating IP pitfalls, they are great factors enabling economic growth across the globe.
This issue of intellectual property rights has resulted in a big bang in the name of a trade war between the United State and China. Whenever the term trade war is mentioned, many Americans get a cold chill down the spine since they have experienced its effects before. Trump imposed hefty tariffs on the goods coming from China which the Chinese government “sent back to sender” by imposing the same tariff on the US goods.
The reason for the move by President Trump is what the US government views as the harmful and unfair acquisition of the US technology by China. China has cost the US billions of losses by stealing the American IP; that’s why Trump says enough is enough. However, the whole bill has not been passed; it awaits some talks between the two governments, which many investors doom very necessary in avoiding trade wars.