SMEs AND INTELLECTUAL PROPERTY RIGHTS

Abstract

Intellectual property rights have become increasingly appealing since intangible assets have become a more important source of wealth generation for businesses. Most governments have made efforts to establish the SME sector in their various countries, where SME's account for 95 percent of the company population and also play a vital role in the economy by adding to GDP and attaining sustainable national economic development. The authors of this work have attempted to explain the importance of intellectual property for SMEs, as well as the constraints that cause poor use of the IP system and have an impact on the ability to utilise innovative talents. In addition, the authors of this study have proposed a number of strategies for encouraging more effective use and enforcement of the IP system by entrepreneurs, so that SME's can incorporate IP into the larger framework.