Small and medium enterprises (SMEs) are globally recognized as engines of socio-economic transformation. They have become rooted as the substructure, enabler, and driver of wealth in many economies of the world—driving job creation and re-engineering the ordinances of business across the globe.
According to a World Bank report, “SMEs represent about 90% of businesses and more than 50% of employment worldwide. Formal SMEs contribute up to 40% of national income (GDP) in emerging economies. It estimates that 600 million jobs will be needed by 2030 to absorb the growing global workforce, which makes SME development a high priority for many governments around the world”. Having uniquely positioned itself as a major hub for wealth creation and redistribution—and its significance as the mainstream both for developing and developed economies, SMEs and their role in the economy is what the World Intellectual Property Organization (WIPO) has dedicated this year’s World IP Day to.
Celebrating World IP Day
WIPO dedicates every April 26 to celebrate intellectual property (IP) and the role it plays in driving innovation and engendering creativity. This year, 2021, the celebration is themed ‘IP and SMEs: Taking your Ideas to the Market’. The theme highlights the roles that IP play in supporting entrepreneurs and innovators by converting their ideas to market opportunities.
WIPO National IP Essay Competition 2021 – Intellectual Property, SMEs, and Economic Recovery in Nigeria
Just as the national IP essay competition 2020, this year WIPO Nigeria Office also welcomes participation of all students of tertiary institutions across Nigeria in the 2021 National IP Essay Competition on the topic “Intellectual Property, SMEs, and Economic Recovery in Nigeria”.
Entries are welcomed from all students of tertiary institutions in Nigeria. Entrants are required to submit their entries along with a valid student proof of enrolment or student ID card.
For more information about entry requirements and awards for winners and participants, click here do download the leaflet from the WIPO Nigeria Office.
Infusion Lawyers congratulates WIPO on this year’s World IP Day. We also commend WIPO Nigeria Office for sustaining the National IP Essay Competition initiative. As one of the selected law firms that provided internship opportunities to successful participants in 2020, we recognize the positive impact this initiative has on the growth and development of IP in Nigeria as well as boosting the research and writing skills of participating students.
Infusion Lawyers clocks 4 today!
We are 4 today!
Infusion Lawyers was founded on World IP Day, 26 April 2017. So as we join WIPO to celebrate this year’s World IP Day, we are also celebrating our 4th Anniversary.
In the last 4 years and still counting, we continue to combine the two most powerful tools in the 21st century — Information Technology (IT) and Intellectual Property (IP) to infuse something new and unleash the power of innovators and startups. Exploring, maximizing, and protecting today’s innovation require that tech entrepreneurs, innovators and SMEs in Africa are not just telling their stories but also turning their stories into their biggest intellectual assets. This will help them both to unlock and maximize value, create opportunities, and open up new possibilities for Nigeria, Africa and the world.
Reputed to be Nigeria’s first virtual law firm, we will continue to be our clients’ partner in innovation.
Reintroducing ‘IP Matters’
This World IP Day, we are happy to reintroduce IP Matters with Senator Ihenyen, our Lead Partner. IP Matters, which was a regular blog that discussed developing issues centred on IP across the world, is back and better. It is all about taking your ideas to market and staying competitive. ‘IP Matters’ has also been rejigged to become even more relevant to you, whether you are a creative, innovator, or investor. Don’t forget to subscribe!
Infusion Lawyers commemorates IP and SMEs: Taking your Ideas to the Market by introducing ‘Minimum Legally-compliant Product (MLP)–the Legal Health Checkup for Startups’
At Infusion Lawyers, amongst other clients, we have worked closely with startups in the last 4 years. Over the years we find that in trying to launch and run startups, startup founders want to run lean startups. In running lean, a good number of these startup founders—especially in developing countries—end up relegating the legal health of the startup to the background. Whether due to a lean purse or other pressing needs or priorities, startups just want to launch an MVP, iterate, and build traction. We can worry about legal issues later, they often say. Consequently, legal or regulatory compliance is either relegated to the bottom of the priority list or completely absent. This is a recurring problem in the startup ecosystem, especially in Africa.
To solve this problem, we have decided to introduce and formally incorporate into our law business ‘Minimum Legally-compliant Product (MLP).’ Click here to know more about MLP and how you can onboard your startup.
Happy World IP Day!