This view was expressed by Minister of Foreign Trade and International Cooperation, Clement Rohee when he delivered an address yesterday at the opening of a workshop on the Intellectual Property System at Le Meridien Pegasus, Georgetown.

The two-day event has been organised by the World Intellectual Property Organisation (WIPO) in cooperation with Guyana’s Ministry of Foreign Trade and International Cooperation.

Rohee contended that in the process of harmonisation of laws governing Patent Systems, standards were adopted by a majority of developed states which did not take into consideration the interests of small and vulnerable states such as Guyana.

The search for ways of implementing Intellectual Property Rights Laws on biodiversity could bring disastrous consequences for countries like Guyana which has a vast biodiversity, Rohee cautioned, adding that in arriving at agreements the different interests of developing and developed states must be given the requisite consideration.

He also observed that the situation with respect to Trade Related Intellectual Property Services (TRIPS) is similar, noting that it is important that the agreements be implemented so that developing countries can secure important medicines.

He said that there is need for an amendment to Article 31 to allow for circumstances facing small and vulnerable economies to be considered.

Rohee, however, observed that developing countries, because of the complexity of the agreement, and these countries not having the requisite manpower are finding it difficult to properly analyse the agreement to determine their needs.

Consultant, Cooperation for Development Bureau for Latin America and the Caribbean, WIPO, Joaquin Alvarez noted that Intellectual Property Rights is an important tool in the process of economic development.

He also observed that Intellectual Property Rights is no longer the privilege of professionals only but relevant to everyone in the society and is necessary for the development of small and medium scale enterprises.

According to WIPO in the increasingly knowledge-driven economy intellectual property (IP) is a key consideration in everyday business decisions. New products, brands and creative designs appear almost daily on the market as a result of continuous human innovation and creativity. Small and medium-sized enterprises (SMEs) are often the driving force behind such innovations. Their innovative and creative capacity, however, is not always fully exploited, as many SMEs are not aware of the intellectual property system or the protection it can provide for inventions, brands and designs.

WIPO adds that if left unprotected, a good invention or creation may be lost to larger competitors that are in a better position to commercialise the product or service at a more affordable price, leaving the original inventor or creator without any financial benefit or reward. Adequate protection of a company’s intellectual property is a crucial step in deterring potential infringement and in turning ideas into business assets with a real market value.

WIPO’s Arbitration and Mediation Centre based in Geneva is a leading international dispute resolution service provider.

The mediation rules developed by leading experts in cross-border dispute settlements are recognized as particularly appropriate for disputes arising out of commercial transactions or relationships involving intellectual property.

The Centre also assists parties to develop dispute resolution schemes (whether mediation, arbitration or another type of procedure, such as the Uniform Domain Dispute Resolution Policy) tailored to meet their specific commercial circumstances or industry characteristics, acts as an authority in ad hoc arbitrations and those conducted pursuant to the UNCITRAL Arbitration Rules, and assists parties in organising their arbitral proceedings.

Guyana acceded to WIPO on October 25, 1994 and received its first WIPO mission in 1995 which came to sensitise the public on the importance of IP. A second mission came in 1996 and in 1999 a fact-finding mission following investigations of IP in Guyana identified it to benefit from WIPO.