On Monday, 7 April, Minister of Justice Inese Lībiņa-Egnere met with Daren Tang, Director General of the World Intellectual Property Organisation (WIPO), to discuss current issues on intellectual property protection and its importance for innovation and sustainable economic development. During the meeting, both sides underlined Latvia's high potential for creativity and innovation, which is an important resource for strengthening the country's competitiveness and attracting investment.
The internationally successful Latvian film "Straume", whose creators have used innovative solutions, including open access software, was highlighted as a striking example. The film's achievements show that intellectual property can be an important tool for attracting investment and strengthening a country's competitiveness and visibility. At the same time, the film's achievements have raised issues of intellectual property protection, as the images and visual elements of the film "Straume" are being used in various ways for commercial purposes in an uncoordinated manner, causing losses both to the authors of the film and to the Latvian creative industry and economy as a whole.
"Strengthening the role of intellectual property is essential to attract investment and boost Latvia's economic growth. The justice system - in particular the Patent Board - ensures the protection and development of property rights and innovation in Latvia. We are working to develop intellectual property as a strategic asset - one that allows companies not only to protect the value of their ideas, but also to use it as collateral to attract future funding. This is the way to an economy where creativity is translated into real investment and real growth," said Minister of Justice Inese Lībiņa-Egnere.
At the end of the meeting, Darren Tang invited the Minister of Justice to pay an official visit to the WIPO Ministerial Meeting in Geneva in July to further strengthen cooperation on intellectual property protection. The Patent Office, in cooperation with WIPO, is implementing a number of projects and training for the judiciary and business on intellectual property protection and development in Latvia.
WIPO Director General Darren Tang is in Latvia to attend an international conference "Intellectual Property as a Catalyst for Innovation and Growth: Connecting Research, Technology and SMEs" in Riga on Tuesday, 8 April, dedicated to the 105th anniversary of the Latvian Patent Board. The conference will be attended by heads of international IP organisations and institutions, foreign experts and industry professionals.