World Intellectual Property Day observed on 26th April 2019

The World Intellectual Property Day was observed globally on 26 April 2019 to spread awareness about important role played by intellectual property rights (IPRs) such as Patents, Trademarks, Industrial Designs and Copyrights in encouraging innovation and creativity. To celebrate this day, World Intellectual Property Organization (WIPO) had hosted different events and activities in collaboration with government agencies, NGOs, community groups and individuals.
Theme of WIPD 2019: “Reach for Gold: IP and Sports”. It seeks to explore how innovation, creativity and IP rights would support development of sport and its enjoyment.
Importance of IPR in Sports: In recent times, sports industries employing millions of people have become multi-billion dollars business. These sports businesses use patents and designs for development of new sports technologies, materials, training, and equipment. Therefore, it is important to secure business relationships built on IP rights help to further boost economic value of sports.

Background

In October 1999, WIPO’s General Assembly had approved idea of declaring a particular day as World Intellectual Property Day. The date April 26 was chosen as on this date in 1970, Convention Establishing WIPO, first entered into force. Later, in 2000 WIPO finally designated 26 April as annual World Intellectual Property Day to address perceived gap between Intellectual Property Rights (IPR) as business/legal concept and its relevance to people’s lives.

Month: Current Affairs - April, 2019