Sunday 21 October, 2018

UTT, IPO sign MoU on intellectual property

An MoU signed between the University of Trinidad and Tobago (UTT) and the Intellectual Property Office (IPO) of the Ministry of the Attorney General and Legal Affairs is expected to benefit entrepreneurs, academics and the UTT student body.

The signing of the agreement will promote continued cooperation between the University and IPO in the field of intellectual property, as well as the national development of IP via training programmes and public outreach, which ultimately will improve the lives of creators and those who consume creative works.

According to a statement from the Attorney General's office, the agreement followed discussions between both parties, as the UTT saw the need as an academic institution to ensure the discovery and development of entrepreneurs and the commercialisation of research and development to spawn companies for wealth generation and the enhancement of life in T&T.

The IPO, which is responsible for the grant of intellectual property rights in Trinidad and Tobago and the administration of all IP laws, has, as one of its prime mandates, the promotion of inventiveness among citizens of Trinidad and Tobago. Toward that end, the IPO is seeking to establish an Intellectual Property Academy within the IPO with the assistance of the World Intellectual Property Organization (WIPO).

The synergy with UTT’s function is very close as Intellectual property is seen as a key asset of the University, the statement read.

In this regard, UTT via its business accelerator uSTART is actively developing opportunities for students to become entrepreneurs based on the full lifecycle from development of idea, business plan, proof of concept, incubation and introduction into the marketplace and production and sales.

The signing took place just ahead of the observance of World Intellectual Property Day on April 26. The theme for 2017 is “Innovation – Improving Lives”.