Speaking on Monday at a ceremony celebrating World Intellectual Property Day, Hong Kong's Secretary for Commerce, Industry & Technology, John Tsang stressed the importance of IP development and protection to the territory's economy.
"Intellectual property (trademarks, patents for inventions, designs and copyright works) is an essential element in protecting the fruits of technological innovation, investment in research and innovative manufacturing processes," he told those attenting the ceremony, continuing:
"Unless intellectual property rights are properly protected, innovators and creators will not be fairly rewarded for their investment in research and development. The recognition and protection of intellectual property rights is therefore essential for the sustainability and prosperity of Hong Kong's creative industries."
Explaining that the main international intellectual property treaties all apply to Hong Kong, Mr Tsang additionally observed that the Closer Economic Partnership Agreement (CEPA) with mainland China has made it easier for both domestic and overseas companies to base their research and development operations in Hong Kong.
"With a comprehensive legal framework and protection system in intellectual property, it's our next challenge to assist enterprises to fully utilise intellectual property assets in creative industries," he suggested, going on to add that:
"To encourage more product design activities in Hong Kong and further promote Hong Kong brand names, we need to strengthen our support for design and innovation."
The Commerce, Industry & Technology Minister concluded by announcing that:
"We shall continue to promote creative industries and uphold our robust protection of intellectual property rights, providing an environment for creative, innovative and high value-added industries flourish. Let's embrace intellectual property as a way to use that creativity for the betterment of our community in 2004."
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