On April 26, 2019, the World Intellectual Property Organization will hold its next World Intellectual Property Day, a day dedicated to the appreciation of intellectual property laws, infrastructure, and innovation recognized by various states, governments, and entities around the globe.
Although we often don’t think of intellectual property itself nor rules that support entrepreneurs’ knack for coming up with all kinds of ideas, intellectual property is quite literally everywhere we look.
Professor Kamil Idris, former Director General of the World Intellectual Property Organization (WIPO), knows all too well that intellectual property is inherently linked to the economies of developed countries that are thriving.
What is intellectual property?
Professor Idris recognizes four types of intellectual property, each of which is briefly detailed below. Patents relate to machines, processes, and other physical or mechanical inventions. Copyrights only consist of art, writing, and music. Trademarks can best be explained as McDonald’s “ba da ba ba bah” tune that plays after each commercial, though they also include designs and symbols that essentially help consumers identify where products they’re using came from.
Why is intellectual property so important?
Way back in 1790, the United States federal government awarded its first patent as a means of rewarding inventors and innovators for their hard work. Today, patents and the three other aforementioned types of intellectual property serve the same purpose.
In business, according to Professor Kamil Idris, companies strive to gain competitive advantages over one another. Without intellectual property guidelines that the United States government, the World Intellectual Property Organization, and countless other governments and organizations support, businesses ultimately wouldn’t have bothered to create things like Apple iPhones, early prototypes of self-driving cars, and other major human accomplishments that were effectively birthed through highly competitive business environments.
Here’s who Professor Kamil Idris is – you really need to knowPut simply, Professor Kamil Idris is nothing short of a revolutionary figure in international law. Mr. Idris is currently best known to most people as the President of the International Court of Arbitration and Mediation, though he served WIPO as Director General for 11 years. He holds two bachelor’s degrees, one master’s, and a doctoral degree with a peer-reviewed thesis.