The Companies and Intellectual Property Commission (CIPC) and the Technology Innovation Agency (TIA) have signed a partnership agreement aimed at the promotion, protection and commercialisation of intellectual property (IP).
The partnership aimed to implement integrated IP services for customers who relied on both entities to realise their “technopreneurial” dreams. Customers would receive assistance during the development, registration, protection and commercialisation of their innovation through, besides others, the Techno-Preneurs Project.
The project was geared towards identifying innovators and potential innovators who have either registered their innovation or have potential innovation to register, with a view to support them to fully develop, protect and commercialise their inventions. The project would initially focus on technology innovators, after which it would expand to other areas of IP.
The Techno-Preneurs Project straddles four areas of cooperation, namely the commercialisation of IP, education and awareness on IP, as well as IP support, and skills development.
The collaboration was expected to stimulate an upsurge in the registration and protection of local IP, such as patents and designs. Currently, the number of domestic applications was lower than that of foreign applications. The CIPC and TIA would create a portal, which would list inventions and inventors and which would be accessible for licensing and commercialisation.
The entities noted that the partnership would also harness the interaction between CIPC and innovators, as well as enrich the necessary discussion regarding the substantive examination of patents.
“It will give meaning and contribute to the country’s industrial policy and innovation growth,” the parties said in a statement.
They highlighted that the protection and commercialisation of IP could enhance the quality of life, create new jobs and industries, as well as stimulate economic growth.
“An efficient IP system can serve as one of the catalysts in cultural and technological development, as well as improve South Africa’s standing in the area of innovation.”