Photo Credit: Loop PNG
The Papua New Guinea intellectual property (IP) policy has been adopted by the National Executive Council for incorporation into national development efforts. The goal, according to Deputy Prime Minister and Commerce and Industry Minister Sam Basil, is to benefit the people by enabling and promoting increased use of the IP system.
“These benefits will emerge from the greater use of the IP system to manage and exploit the intellectual property they create,” he said. “Over the years, the Government has realised the importance of establishing an adequate and balanced intellectual property and one that fuels innovation and creativity.
“These benefits will emerge from the greater use of the IP system to manage the intellectual property they create.
“This will ensure that those who create new intellectual property in PNG are able to derive a fair reward from those who use that intellectual property.
“Achievement of this primary objective will also boost PNG’s intra-national and international trade encouraging increased activity, economic growth and prosperity.”
The increasing use of the intellectual property system is intended to:
- PROMOTE creative and inventive activities in all sectors; I
- INCREASE the amount and types of intellectual property asset protection created in the public and commercial sectors, as well as in education;
- To achieve sustainable and responsible economic development and national prosperity, STIMULATE research and development activity, technology transfer, and commercialization in productive sectors;
- FACILITATE increased entrepreneurial activity nationally; and
- PROTECT, ENFORCE, PRESERVE, CONSERVE, and USE cultural heritage.
“While Papua New Guinea is heavily dependent on the non-renewable resources, there is a need to embrace the power of innovation and creativity as a tool for economic development and support the development of an effective intellectual property system,” Basil said.
Reference:
The National (15 June 2021). “Cabinet endorses IP strategy”.
