AS most countries in the world are exploring their Intellectual Property (IP) to grow their Gross Domestic Products (GDP), professionals under the Nigerian Institution of Estate Surveyors and Valuers (NIESV) have promised not to leave any stone unturned to replicate the feat in Nigeria.
One of the steps currently being taken, according to the President of NIESV, Chief Emma Okas Wike, is to seek effective collaboration to build up the nation’s IP hubs that are available everywhere.
Wike disclosed this when he led the executive members of the institution on a consultative visit to the Nigerian Copyright Commission (NCC) office in Lagos.
He called for collaboration between NIESV and NCC in order to protect the Intellectual Property (IP) right in Nigeria.
Wike, who was accompanied by his executive members and Faculty Chairman of Business Assets and Intellectual Property Valuation, Lekan Akinwumi, said the call has became necessary in order to create a formal professional relationship with the commission
The NIESV president said “As a profession known for strict adherence to best global practices, accurate measurement of IP in monetary terms became imperative. The world is changing; 70 – 80 per cent are now intangible assets, which was not so a decade ago.
“There are countries where the revenue from the Intellectual Property (IP) is going up to 6 per cent of the Gross Domestic Products. With effective collaboration, we can replicate the same in Nigeria; we can build our IP hubs since they are all over us.”
NIESV’s president said the proposed synergy between the association and NCC would spur the advancement of property rights, resulting in proper harnessing of talents and inventions and, by extension, economic growth in the near future
Wike enjoined NCC to protect the IP right in Nigeria, saying this in turn would encourage businesses to pay taxes and other rates.
“We would expect the commission to partner with us in professional trainings, as this would be beneficial to both parties,” he said
Besides, he urged NCC to collaborate in determining the market value of infringed right for effective prosecution and arbitration, adding that it should consider undertaking joint advocacy of IP commercialisation with NIESV in the interest of the nation as well as IP valuation.
In his response, the Director-General, NCC, John O. Asien, immediately approved all four points’ agenda raised by NIESV’s president for action.
The director-general charged professional bodies to support government’s vision of lifting 100 million Nigerians out of poverty in ten years, by promoting the use of intellectual property (IP) as a tool of wealth creation, gainful employment and sustainable growth in the creative industries.
He further urged all professional bodies with mandates touching on the creative and innovative sectors to assist Small and Medium Scale Enterprises (SMEs) to take full advantage of their IP rights as vehicles for taking their ideas to the market.
He mentioned the issue of intellectual property components of some properties that have been valued without capturing their value’s components.
He advised that this aspect should be further paid attention to by estate surveyors and valuers. He continued by saying that the issue of how to handle copyrights in valuations had been settled by the courts and that it should be handled as ‘moveable.’
Talking about the collaboration, the director-general suggested that a Memorandum of Understanding (MOU) be put together by both parties, stating the expectations and deliverables of the partnership.
He further encouraged the NIESV to partner in NCC’s advocacy drive with respect to the passage of the Copyright Bill that has been sent to the National Assembly.
The delegation from NIESV was received by Asien; Director, Nigerian Copyright Academy, Mr Mike Akpan; Director, Public Affairs, Mr Vincent Oyefeso and Director, Legal Services, Mr Emeka Ogbonna, respectively.
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