Egypt is taking steps toward establishing an intellectual property system that stimulates innovation, Creativity and promotes research, development, and production of Technology, culture, and arts, through The National Strategy for Intellectual property.
This Strategy stipulates number of goals to be achieved from 2022 till 2027, this would crystalize the importance of regulating Intellectual property right for the development of the state economically, socially, and culturally.
IP right’s importance extends also to your company or start-up, it would provide protection in your competition with other companies, protect the company or start-up from infringement suits, and could even increase its market value.
As for the competition process, obtaining IP rights would protect your company’s distinctive products, ideas, or designs from being used or copied by a competitor. This would render the company enjoying a competitive advantage in the market.
Additionally, it would protect your start-up against any infringement suits, as we commonly hear about disputes where business holders would believe that they hold a distinctive idea, product, or design and it turns out that other companies hold similar ones, In this case acquiring IP right would protect you and your company from lawsuits.
Last but not least, start-ups can convert intangible assets into property rights which would help increase your start-up’s income selling or marketing products or services protected under intellectual property, this would also contribute to the improvement of the company’s market share. IP rights could be your company’s only wealth, which would attract investors helping you to upgrade your business, enabling you to make the most of acquisition or merger situations.