Significance of Intellectual Property

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¿What significance does Intellectual Property have? With this challenging question begins the video we would like to propose you this week for our “Patents world” section.

The video is part of an interesting interview to Kim Young-Min, commissioner of Korean Intellectual Property Office (KIPO).

Answering the initial question, Intellectual Property can be considered as a result of imagination and creativity, or more precisely the way to protect them and get a right.

“In the creativity economy, Intellectual Property can act as an institutional strategy to create ideas” says Young-Min. We couldn’t agree more on this vision of IP as a mix of instrument that encourages the growth of creative ideas and at the same time strengthen the competitiveness and create a considerable added value.

We add that in the modern global economy, the IP rights allow the exchange of innovations, encouraging creativity and building consumer confidence, offering the opportunity to start new businesses.

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