Today is World Intellectual Property Day, WIPO’s annual celebration of IP rights and their role in innovation, creativity, and society as a whole. The theme for 2019 is: Reach for Gold: IP and Sports.
On April 26th, 1970 WIPO or WIPO convention came into force and since 2000, this day has been celebrated as World IP day.
Activities and Events are organized all over the world to facilitate discussion and appreciate how innovation, creativity and the IP rights encourage and protect the development of sport and its enjoyment around the world. World IP day events map on the WIPO website lists the events happening all over the world to celebrate the world IP day and its 2019 theme.
In his message on WIPO’s website, the WIPO’s Director General Francis Gurry said, “We have been celebrating World Intellectual Property Day for the last 19 years. Each year we choose a theme that illustrates just how important intellectual property is to society, the economy and to our everyday lives.”
Gurry further mentioned about the relation of Sports and Intellectual Property in his message. He said, “Intellectual property rights underlie and empower the financial model of all sporting events worldwide.”
Though the direct connection between IP and sports is not evident, there is a strong connection behind the scenes.
No one can deny that business relationships built on IP rights help to secure the economic value of sports. This eventually accelerates the overall growth of the sports industry like sports technologies, sports materials, sports gear etc; thereby generating more Intellectual property for these business houses in the form of patents and designs.
Trademarks and branding maximize commercial revenue from sponsorship, merchandising and licensing offset. These revenues further aid in organizing world-class sports events like Olympics, World cups, Wimbledon etc.
Sports personalities too earn revenues via branding, endorsement deals and sponsorship deals. Sport broadcasting rights are sold to TV and other media to generate revenue. Various other technological advancements are happening for sports enthusiasts which involve robotics, artificial intelligence etc.
All of the IP rights mentioned above wok behind the scenes, as a driving force to bring about change and revolution in Sports.
On this world IP day, let’s join hands to celebrate our sporting heroes and the power of sports to engage, inspire, innovate and unite all of us across the world to push boundaries of the human achievement.
In the words of Director General of WIPO, “This year’s World Intellectual Property Day campaign celebrates the positive role that intellectual property plays in encouraging sports, a wonderful range of pursuits in which human beings have always engaged and which enrich our lives in so many different ways.”