The Intellectual Property and Technology Law Club has been inaugurated. The inauguration ceremony of the club took place on Friday, June 29th, 2018 at the Seminar Room, Faculty of Law. The inauguration was graced with the presence of Senator Iyere Ihenyen, Lead Partner of Infusion Lawyers and Ms. Tolu Olaloye, Senior Associate at Jackson Etti and Edu Legal Practice.
In her lecture, tagged:” The Relevance of Intellectual Property to the Nigerian Economy “, Ms. Olaloye discussed the basics of Intellectual property law, showing the difference between the various forms of intellectual property: patent, copyright, designs and trademarks. She emphasized that intellectual property is a veritable means of making income, as the inventor may choose to sell the patent rights to his invention to another person whose business thrives better than the inventor’s.
Senator Ihenyen equally adumbrated on the topic, “Is IP the new oil in the Nigerian Economy?“. Senator Ihenyen was of the view that so far as oil has the highest contribution to the Nigerian economy, intellectual property might be the new oil in the nearest future. He lamented that Nigeria and even the entire Africa continent has little contribution to the turnout of inventions produced worldview. He mentioned that a statistics revealed last year put Africa’s contribution to intellectual property at just 2% of the inventions produced in that year.
At the conclusion of the inauguration, the Intellectual Property and Technology Law Club issued an announcement that there will be an Intellectual Property Law conference and networking opportunities with top chambers in Nigeria on the 13th July 2018.