The US Agency for International Development’s (USAID) Trade Facilitation Project (TFP) in cooperation with the Entrepreneurs Business Forum (EBF) focused on Intellectual Property Rights (IPR) in a workshop that took place today at the Bibliotheca Alexandrina. This is one of a series of IPR workshops that USAID is undertaking in an attempt to support small and medium enterprises in Egypt to grow and develop the economy. Workshop speakers included business and intellectual property experts from Egypt and the United States.
“One of the best and fastest ways a small company can protect itself from unfair business practice is to register their intellectual property”, said Ms. Jaleen Moroney, Deputy Chief of Party, Trade Facilitation Project.
Supporting Egypt’s Intellectual Property Rights has been a priority for the Government of Egypt and a leading item in Egypt’s international trade and investment agreements, which led to issuing Law (82) of 2002.
Mr. Mohamed Hegazy, Director of Intellectual Property for Information Technology Industry Development Agency (ITIDA) explained the importance of Intellectual Property Rights, stating, “Through registration of new innovations, companies can further develop their businesses and turn their ideas into assets and stocks, which can also be used for bank loans.” Ms. Moroney further added, “By protecting their new innovations, companies protect their businesses. This also grows exports and creates jobs for Egypt.”
EBF is the first business organization in Egypt promoting entrepreneurship. It is a diverse non-profit association established in 2004 by a group of motivated entrepreneurs as a response to the country’s growing economy.