Entertainment
THE Nigerian Copyright Commission (NCC) has urged banks to allow the use of Intellectual Property (IP) assets as collaterals by Small and Medium Enterprises (SMEs) desirous to support the creative industry.
Mr. John Asien, Director General of NCC, made the appeal in a statement issued on Tuesday in Abuja to commemorate World Intellectual Property (IP) Day.
He said that like other IP assets, copyright has value, which should be exploited for sustainable national development.
“The Commission is prepared to work with relevant agencies and stakeholders to explore this area further and assures that the NCC will continue to support legitimate SMEs and frowns at illegal, unfair or unconscionable business practices,” he said.
The D-G said that the theme for the 2021 World Intellectual Property (IP) Day — “IP and SMEs: Taking your Ideas to Market,” underscored the place of SMEs in society and how the IP system could serve as a vehicle for moving their raw ideas to the market.
According to him, SMEs are the backbones of national economies as they deliver goods and services, serve as incubators for innovations, and also springs of creativity.
Asein, therefore, appealed to the public to accord SMEs the needed support by respecting their copyright assets.
He underscored the commitment of the commission to assisting SMEs with the needed administrative and legislative frameworks to facilitate their use of the copyright system in converting ideas to bankable assets and to engender investor confidence in the sector.
“The new Draft Copyright Bill, when eventually passed into law will give impetus to the growth of SMEs by providing adequate protection for them in the digital environment and on the many online platforms”, he stated.
According to Asein, in the meantime, under the present Act, “appropriate regulatory solutions are being developed to encourage better licensing practice and aid the effective use of flexibilities to grow copyright-related industries.
The NCC D-G stated that the areas of attention would include the activation of statutory and compulsory licensing provisions in the Third Schedule (dealing with cover versions of music)
He further added that the Fourth Schedule would deal with the grant of compulsory licenses for translation and reproduction of certain works.
According to him, the commission will also improve on the copyright registration system to make it more user-friendly and responsive to the needs of SMEs, taking cognizance of today’s market realities.
Asein further stated that the commission was collaborating with the World Intellectual Property Organisation (WIPO) Arbitration and Mediation Center to promote the use of arbitration and mediation for the speedy resolution of disputes in the entertainment industry.
He said that within the context of its existing policy initiative, the commission would provide safe corridors for copyright works from the point of creation to the market to guarantee a return on intellectual investment.
The Director-General charged industry practitioners to complement the efforts of the commission by paying more attention to the business side of their creative endeavors such as rights clearance, licensing, marketing strategies, and rights management.
Others, he said, included dispute resolution and effective protection in order to ensure adequate returns on their intellectual and financial investment.
Asein observed that SMEs accounted for over 90 percent of the world’s businesses and a significant portion of the global workforce, adding that the opportunities available to them in the creative space were limitless in today’s digital and online platforms.
He, however, decried the criminal activities of pirates as a discouragement to investment thereby making it difficult for SMEs to thrive.
Asien therefore, assured that the Commission would continue to promote a culture of respect for copyright and pursue a zero-tolerance policy for all forms of piracy in the copyright market.
He commended practitioners in the creative sector for giving Nigeria an industry to be proud of (NAN)
– April 27, 2021 @ 17:57 GMT
Tags: World IP Day: DG urges banks to allow IP assets as security to boost SMEs input
