ARTICLE
15 January 2020

Impact Of Intellectual Property Infringement On Businesses And The Nigerian Economy

PN
PwC Nigeria

Contributor

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PwC Nigeria is one of the leading professional services ?rms in Nigeria with of?ces in Lagos, Abuja and Port Harcourt, with over 1,000 staff and 31 resident partners. We are committed to serving as a force for integrity, good sense and wise solutions to the problems facing businesses and the capital markets. We are guided by one promise – to do what is right, be it with our people, clients, community, or environment.
Data has shown a strong correlation between strong intellectual property rights and economic development. Strong IP rights create an enabling environment for the innovation necessary for economic stimulation.
Nigeria Strategy

Data has shown a strong correlation between strong intellectual property rights and economic development. Strong IP rights create an enabling environment for the innovation necessary for economic stimulation. Unfortunately, Nigeria is home to one of the weakest intellectual property protection regimes which hampers growth prospects of our already weak economy.

IP violations hinders economic growth by discouraging investment, decreasing innovation, discouraging research and diminishing financial benefits from creation and may pose harm to consumers.

The strongest tool with which to restore Nigeria's intellectual property protection and enforcement regimes are legislation and policy initiatives that prioritise IP protection.

Download: Impact of Intellectual Property Infringement on Businesses and the Nigerian Economy

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