The World Intellectual Property Organisation (WIPO) this week revealed that a number of leading international economists have agreed that the proper development, use, and protection of intellectual property (IP) represents a powerful economic development tool, especially for developing countries.
In a statement, WIPO announced that:
"The economists, meeting on November 18, 2003 with officials of the World Intellectual Property Organisation (WIPO) responsible for advising member states on the integration of IP into economic policies, noted that IP rights could affect economic growth through a multitude of simultaneous mechanisms. These were related to trade, foreign direct investment, research and development and investment in human capital which could be measured using a range of economic indicators."
The meeting, attended by economists from India, Sweden, the United States, and the UK, took place within the framework of the Organisation's efforts to provide policymakers with advice on the integration of IP into macro-economic policies.
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