Now’s the time for young people to switch on to intellectual property

• Author: Nadine Hakizimana and Edward Kwakwa
• Position: Global Challenges and Partnerships Sector, WIPO

“Do it for the culture, they gon’ bite like vultures,” echoes the fundamental purpose of a balanced IP system, namely to encourage innovation and creativity to serve the interests of all people and is a worthy entry point to engage with young people on IP. (Photo: Gonzales Photo / Alamy Stock Photo)

Quavo’s lyric echoes the fundamental purpose of a balanced IP system, namely to encourage innovation and creativity to serve the interests of all people. By recognizing and rewarding creators and inventors for their work and ensuring we have access to their outputs, the global IP system helps to catapult society forward, economically, socially and culturally for all our benefit. This makes Quavo’s lyric a worthy entry point to engage with young people on how the IP system can support their ambitions.

Intellectual property is for youth

The expanding levels of interconnectivity we enjoy today are opening up exciting opportunities for creative expression, making it easy for young people to be consumers and creators of IP.

By switching on to IP, young people can find out how to safeguard their own interests and avoid infringing the rights of others. The IP system and the rights it confers enable young people (read more about WIPO Youth Program) to turn their ideas and talents into valuable economic assets. In other words, they can generate income from their ideas, and can continue devoting their time and energy to honing their talent. They can even build a business around their ingenuity and create jobs, supporting their local community and national economic growth.

Today, globally, 90 percent of business value flows from intangible assets according to financial specialists Ocean Tomo. This explains why many countries, especially developing economies, are working to boost economic growth by fostering the development of high-value knowledge-based industries. Because IP rights make it possible to protect and leverage the value of the intangible assets that underpin knowledge-based economies, IP will become ever more present in the lives of young people.

WIPO’s Youth Program

In 2021, Director General Daren Tang presented WIPO’s Medium-Term Strategic Plan (MTSP) 2022–2026 to member states, which highlights the role of youth.

“Youth will also be a focus of our attention. They are our future innovators, creators and entrepreneurs, and represent a large percentage of the population in many developing countries. We need to ensure that they understand how IP is connected and relevant to their lives and support their aspirations, whether it is to earn a livelihood through innovation and creativity, or to address global challenges.”

In February 2022, WIPO welcomed its first cohort of young professionals under the WIPO Young Experts Program. They will spend two years at WIPO’s headquarters in Geneva to broaden their IP knowledge. They will become the IP leaders of tomorrow.

WIPO also offers young IP practitioners an avenue to network with over 600 like-minded members and to benefit from training opportunities on IP and alternative dispute resolution through the WIPO ADR Young Program.

In February 2022, WIPO welcomed its first...