across the bar

5 reasons why we should be thinking more about IP

by Steve - Posted 26 March 2006

1)         It bolsters the economy

Intellectual property rights (IPR) are associated with greater trade and direct foreign investment into our country which translates directly into more jobs and economic growth.

In the US, 50% of exports are IPR related vs 10% 50 years ago.

2)         It is vital to important industries like health care, agriculture and communications

Advances in these industries would not be possible without strong IP support and protection. For example, pharmaceutical companies that cannot earn a sufficient return on investment for new drugs or health products will take their products elsewhere. There goes the next cure for breast cancer!

3)         It halts the brain drain

South Africa's best and brightest are leaving our shores to greener pastures which offer them more lucrative opportunities. Amongst them are intellectually and artistically gifted people who believe their creative hard work will be better rewarded and protected in other countries. If we have a good system for IP protection, many of these people will stay and earn their living in SA.

4)         It offers us all the gadgets and gizmos we crave

Consumers also have an insatiable thirst for new products. Without proper IP protection, the supply of new inventions, technological breakthroughs and ideas would dry up.

5)         It inspires musos, authors and artists to create

Creative people cannot rely on locks, safes and fences to protect their hours of creative effort. The Afrikaans music scene in SA is under serious threat because of IP infringements. While many of us won't miss Steve and Amor, they are an integral part of SA's culture and their work needs to be protected and preserved.