Happy World Intellectual Property Day!

World Intellectual Property Day was established by the World Intellectual Property Organization (WIPO) in 2000 to "raise awareness of how patents, copyright, trademarks and designs impact on daily life" and "to celebrate creativity, and the contribution made by creators and innovators to the development of societies across the globe." April 26th is also the day the Convention that established the World Intellectual Property Organization went into force back in 1970.

According to the World Bank, Small and Medium Enterprises (SMEs) account for a majority of worldwide business and contribute to job creation and global economic development. SMEs "represent about 90% of businesses and more than 50% of employment worldwide." According to the World Bank, 600 million jobs will be needed by 2030 to absorb the growing global workforce. Keeping in mind that most formal jobs are generated by SMEs, this makes SME development a high priority for national economies across the globe.

WIPO outlines the important role the IP system can generally have in supporting SMEs for successful growth downstream:

• protect innovative products and services;

• increase the visibility, attractiveness and value of your products on the market;

• distinguish your business and its products from the competition;

• access technical and business information and knowledge;

• avoid the risk of unknowingly using third party proprietary content or inadvertently losing your own valuable information, innovations or creative output.