RECORDER REPORT

LAHORE: The Lahore Chamber of Commerce and Industry has called to make Intellectual Property Rights an essential part of the businesses saying that IPRs are the most valuable asset for businesses in West but here in Pakistan a lot of work is yet to be done.

LCCI President Malik Tahir Javaid said 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-based nation is gaining ground because it is Intellectual Property Rights that enables technology creation and technology transfer by providing the necessary enabling environment.

Malik Tahir Javaid 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 the 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.

The LCCI President said that massive public awareness campaign should be undertaken for sensitizing the consumers about their legitimate rights to opt for genuine and branded products and services. He said the government should also make efforts to curb counterfeiting and piracy with the support of enforcement agencies - police, Federal Investigation Agency (FIA) and Pakistan Customs. He said the manufacturers of counterfeit products were not only depriving the government of much needed revenue but also denting the reputation of genuine manufacturers because of fake products.