This blog highlights the importance of intellectual property rights (IPRs) in the commercialisation process and suggests some strategies to advance the commercialisation process in Sri Lanka.
During the Fourth Industrial Revolution (4IR), technology and innovations are at an increased risk of falling victim to Intellectual Property (IP) right violations, due to their important role in wealth creation and socio-political stability. As such, the development of comprehensive regulatory systems, inclusive of intellectual property (IP) protection, is crucial in this era, argues Dilani Hirimuthugodage.
When it comes to innovation, Sri Lanka has been overtaken by the rest of the world. While countries vie for top positions in the rapidly moving race for technological advancements, Sri Lanka lags far behind. On World Intellectual Property Day, Dilani Hirimuthugodage’s article ponders reasons for Sri Lanka’s lack of innovations and gives policy recommendations to help Sri Lanka catch up through a well-built IP system.