Nahas: Economy Ministry to review patent lawsBEIRUT: Enforcing copyright protection laws is critically needed to attract investments, the economy minister said Monday, adding that the ministry is in process of reviewing patent and trademark registration procedures.
“We are absolutely sure that enforcing copyright rules is a main incentive for investments, and a key element to boost competitiveness,” Minister Nicolas Nahas told attendees at a workshop organized by the World Intellectual Property Organization.
Nahas added the ministry was reviewing copyright registration procedures, adding that registration, transfer and licensing fees should be reduced, particularly for small- and medium-sized enterprises.
Roger Nesnas, head of the Lebanese Socio-Economic Council, echoed Nahas views, highlighting enforcing copyright laws as a prerequisite for developing Lebanon’s information technology and other innovative sectors.
Anil Sinha, head of SMEs division at WIFPO, discussed the role of intellectual property in strengthening competitiveness of small enterprises. He said over 80 percent of SMEs’ assets had become copyright related.
“Cementing copyright through advanced technologies and methods has become necessary,” Sinha added.