LAHORE:The intellectual property rights (IPRs) should be vital part of businesses, as these are most valuable asset for the entrepreneurs in the Western world, but need a lot of attention in Pakistan.
Lahore Chamber of Commerce & Industry (LCCI) Vice President Haris Ateeq stated this while speaking at the 8th meeting of the IPRs enforcement coordination committee, convened by the IPO-Pakistan here at the Lahore Chamber on Monday. IPO-Pakistan Director General Shazia Adnan, LCCI Executive Committee Member Ali Afzal and other experts also spoke.
LCCI Vice President Haris Ateeq said that the scope and importance of IPRs could not be underestimated, particularly with reference to safeguarding the interest and future prospects of the business community. He said there could be no second opinion to the fact that the intellectual property rights are critical for competitive economy in the backdrop of ongoing globalisation.
He said that the government departments concerned should make foolproof arrangements to check the import and manufacturing of counterfeit products in the country. He said that a genuine product takes three to four decades to get on its feet, but a manufacturer of counterfeit product nullifies all the efforts in a few days; therefore, a mechanism should be put in place to reinforce anti-piracy laws. He also urged the government to launch a campaign to create awareness among masses against counterfeit products.