LAHORE: Intellectual Property Rights (IPRs) should be vital part of the businesses as these are the most valuable asset for the entrepreneurs in the western world but still a lot of work has to be done in Pakistan.

These views were expressed by the Vice President of the Lahore Chamber of Commerce & Industry Haris Ateeq while speaking at the 8th Meeting of IPR Enforcement Coordination Committee Convened by IPO-Pakistan at the Lahore Chamber of Commerce & Industry. Shazia Adnan, Director General, IPO-Pakistan, LCCI EC Member Ali Afzal and other experts also spoke on the occasion.

LCCI Vice President Haris Ateeq said that the scope and importance of IPRs cannot be underestimated particularly with reference to safeguarding the interest and future prospects of business community.

He said there can be no second opinion to this fact that the Intellectual Property Rights are critical for competitive economy in the backdrop of ongoing globalization. The new concept of IPRs is gaining globally acceptance because it is Intellectual Property Rights that enables technology creation and technology transfer by providing the necessary enabling environment.

He urged the private sector of Pakistan not to neglect Intellectual Property Rights at any cost because these set their businesses apart from competitors, provide an important revenue stream, offer customers something new and different and form an essential part of their marketing or branding.

He said that government should protect and vigorously enforce Intellectual Property Rights (IPRs) besides providing a congenial and protected environment to improve the image of Pakistan as a responsible and Intellectual Property compliant nation.

Copyright Business Recorder, 2021