Intellectual Property Rights: An Unseen Player

The economic development of a country is played by so many players. Players like large
industries, small businesses, technological advancements, new infrastractures,
developments of relationships on both macro and micro level, increase of labor and
skills, and even taxes. In fact, there are so many players in the field that it would be
impossible to state them one by one. However, one problem that our economy faces is
that we are actually short of players, short in innovation, short in productivity and short
in overall development. That’s why we are rather slow in terms of economic
development when compared to other countries. The shortage of players primarily roots
from the fact that we have an underrated and underdeveloped player, making it seem
like it is an unseen player. In the multitude of players leveling our economic
development, we have failed to recognize Intellectual Property Rights as a major role
player. This oversight is actually why Intellectual Property Rights is yet to reach its own
apex that would significantly boost our economic growth. The reason for this kind of
faith lies in the power of Intellectual Property.

Intellectual Property Rights’ power is that it can boost the economy as it has the
capability to encourage both individuals and companies—new players—to invest in their
ideas, research, and creation—or attributes. Through the protection and privilege of
having exclusive rights to their ideas, research and creations, both big time players and
small time players would be motivated to assert themselves in the market—or in the
game really. This not only means that they would have more playing time in the field,
garnering more profit for themselves but also for the economy. This naturally means
that they would help profit circulate better. Additionally, being protected and having
exclusive privileges means that these new players would worry less about unfair
competition and exploitation of their attributes. They would be able to bring more
innovations and profits or improve their attributes if they are secured and focused on
their goals. Ultimately, with Intellectual Property, what is created is not just a means for
profit but a healthy community that can pull each other up. And this healthy
environment will most likely attract and inspire—especially once the players take off
with their profits—aspiring players to take a step into the spotlight and do the same and
produce the same effects, creating an ever-going up movement for our economy.

In its most basic sense, Intellectual Property Rights increases productivity and
innovation for the betterment of the economy. Intellectual Property is one of those
important factors that help people realize that it is worth pushing through with their
ideas and creations. It is also Intellectual Property Rights which make them survive
until they come into fruition and thrive. However, if the Intellectual Property Rights is
weak, it naturally gives a message that people and businesses are not safe in the market.
They would be subject to exploitation and unfair competition. This may even lead up to
the end of their cavalier and venture. As such, there is a big discouragement if our
Intellectual Property is underdeveloped.

At present, our Intellectual Property Rights have yet to show its true potential. While we
are behind compared to other countries, it is not too late for us to put Intellectual
Property Rights as one one the key players in the country. All it would take is one push
and there would be a landslide of productivity and innovation. After all, we Filipinos are
creative, resourceful and brilliant. Our resilience cannot be matched but it can be rightly
paired with an outstanding system of Intellectual Property Rights.