Daily Times

LAHORE: A seminar on ‘Law and Policy of Intellectual Property Rights’ was held at the University of Management and Technology (UMT) on Saturday.

Renowned Australian scholar and international intellectual property lawyer Philip Mendes gave a thought-provoking presentation on the topic of ‘Intellectual Property Rights, Tech-transfer and Entrepreneurial Millionaire Scientist’, which was attended by a good number of faculty members and students. Illustrating several examples from scientific and technological world, Professor Philip said that excellence in scientific innovation and discovery was the result of intellectual property of individuals that commercialised their creative ideas. He said the universities were the nurseries for future intellectuals that would transform their knowledge for the betterment of their fellow human beings.

On the occasion, UMT Rector Dr Hasan Sohaib Murad said knowledge-based economy is about conceptualising innovation and creation. He said initially it was merely an idea but nobody knew that the idea would turn into a reality and bring a revolution in technology. He emphasised on faculty and said that it was very important for faculty to be aware of their intellectual property and be apt in classifying and protecting those rights legally. While giving reference of UMT’s first US Patent in radar technology, the rector laid stress on nourishing the culture of innovation at all degree programmes; bachelors, masters and doctoral.

Murad said that teaching was not about merely disseminating knowledge rather it was about transforming innovative ideas. The UMT rector hinted at introducing a new academic policy of engaging varsity students in creative thinking that would bring about a vibrant intellectual policy ecosystem at UMT and in turn would speed up research and teaching culture at the varsity, he added. Pakistan needs a secure intellectual property regime to attract both domestic and foreign investors and companies to set up their bases. This would drive long-term revenue and improve market positions, the seminar learned.

Although small businesses and their products are protected in Pakistan through trademarks, more laws are need of the hour so that the government and judiciary must create a holistic approach on intellectual property rights of its individuals as well as foreign investors, who come to Pakistan in search of new market opportunities.