Why IPR Protection is important for Bangladesh?

Why IPR Protection is important for Bangladesh?

Public policy implied at the protection of the intellectual property is based on the desire to ensure a rich, diverse, competitive marketplace, Giving investors, scientists, writers, artists, business persons, and others enforceable property rights in their creations makes it possible for creators to recoup their investment in the creative process, encouraging them to devote their time and efforts to developing new works, products and services.

Why IPR Protection is important for Bangladesh?

[ Why IPR Protection is important for Bangladesh? ]

Creators’ home countries-governments and societies-also benflit when intellectual property rights (IPR) are protected by law and IPR laws are enforced. For example:

  • Copyright laws encourage the creation of a wide variety of literary works, computer programs, artistic works, and expressions of national culture.
  • Patent laws encourage the discovery and invention of new and improved products, processes and other contributions to society while ensuring the first possible public access to information regarding these new products and processes.
  • Trademark laws encourage the development and maintenance of high-quality products and services in order to engender customer loyalty.

Because thieves, pines and counter foilers neither respect nationality nor pay taxes. Effective enforcement of IPR is crucial. Strong, effective intellectual; property protection is the cornerstone on which an attractive investment climate is built, and produces long-term economic benefits. For example, IPR protection:

  • Stimulates innovation by providing an environment in which innovation is rewarded.
  • Encourages the development of lower-cost methods of production and distribution.
  • Stimulates the development of markets within the country and encourages the transfer of technology.
  • Creates jobs and creates a higher quality and technically prepared labour force.
  • Increases the amount of new capital that can be generated for investment in economic development.

Trademark, patent, and copyright piracy are serious and growing problems in Bangladesh, one that affects not only foreign but Bangladeshi businesses. Although the Bangladesh Government is in the process of preparing laws that will improve intellectual property rights, enforcement of these laws will be crucial, particularly for a country with the ambition to develop a software industry.

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