The House of Representatives on Thursday passed through second reading a bill seeking to repeal the Patents Design Act of 1971 and re-enact the Patents and Designs Act 2019, to bring about an upgrade within the body of laws governing patents, designs and utility models in Nigeria.
This he explained was in contravention of the international Lega tools on intellectual Property.
He further said that the present legal framework for the government of Patents in Nigeria was not only out obsolete, but also insufficient to meet the requirements of modern society.
“At the present age of international trade, Nigeria can’t afford to be isolated is it insulated from world events. Hence, the prospects of conducting business in Nigeria ought to be with what obtains in other nations of the world by strengthening the intellectual property program in Nigeria, through the instrumentality of the invoice.
“The intellectual property rights are exclusive rights that are conferred by law to a person, business, corporation or any legal thing for the goods of that person, enterprise corporations or some other legal entity for the product of his or its own intellects.
“Products of intellects can take many forms as we all know, and those that are protected include scientific inventions, industrial designs, signs of a purely commercial price or trademarks, a trade secret on the one hand; and they might be in the kind of literary works, it could possibly be in a form of artistic work or aMusical work.
Read Also: Leaders must unite against insecurity, herdsmen criminality, divisive forces and inter-tribal conflict, says Lawan
“Intellectual property law does confer on the person, the exclusive rights of delegating, exploiting, transmitting and contracting out inventions of wisdom.
“Quite simply, the exact same way a person owns land or an individual may have a vehicle or another item or property, the law provides for the security of these tangible rights and ownership, provides grants and protection with the person exclusive rights to exploits the land or automobile in terms of selling it, renting it or even exporting or importing a car or concrete advantage, in the same manner with intellectual property, the law offers protection for exclusive manipulation, assignment, transmission as well as the contracting-out of novel creations of the intellect.
Taiwo while talking further stressed the bill if passed will enhance the quality of life of Nigerians and supplies a more comprehensive industrial/intellectual property system which protectsInnovations and creative expressions.
He added that the bill Wii be a bit helpful pre-condition to generating and using new technology and therefore, would boost economic increase and assist development.
“A powerful system of intellectual property rights is indispensable to technological development and advancement.
“These innovations are substantial and for ease of understanding, reading and interpretation, there is the need to repeal and re-enact the legislation, he added.
