Innovation Asset Blog

South Africa pursuing changes to intellectual property law

A report from Engineering News detailed the planned changes to South Africa's intellectual property system. The adjustments, like those in most countries, are designed to encourage innovation and make the process more convenient for businesses.

The nation's current IP system does "not support coordination among national and international divisions and departments. It also had a fragmented approach that did not provide for industrial or sector-specific needs," according to the news provider.

Formalizing the nation's policies on these concepts is critical to the expansion and success of South African businesses moving forward. However, the news provider reports that some experts in the country have advised government and business officials that the law must constantly evolve as new technologies arise.

Despite global efforts to improve access to intellectual property, government bureaucracy has proven to be a large hurdle for some to overcome. Within the U.S., both Republicans and Democrats agree that the system must be updated. However, critical legislation is still up for debate. According to several sources, the primary sticking point has been the allocation of revenue drawn from the patent application process.

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.