RIYADH: Focusing on intellectual property is common among large companies, but it is equally important for small and medium enterprises (SMEs) to do so, Dr. Muhammad Bin Ibrahim Al-Suwayyil, President of King Abdulaziz City for Science and Technology, said Sunday. Dr. Al-Suwayyil spoke at the inauguration of a training program for instructors in intellectual property assets management for small and medium enterprises, which his organization is establishing at its headquarters in Riyadh, in cooperation with the World Intellectual Property Organization. “The greatest beneficiaries from knowledge in intellectual property assets assessment and management are the big companies,” Dr. Al-Suwayyil said. “Small and medium establishments mostly do not give a proper estimate of the importance of intellectual property, especially in the field of gaining intellectual property assets and their management. If they were used well, that would help the businesses increase profits and upgrade their competitiveness.” Dr. Al-Suwayyil stressed the economic importance of intellectual property and its role in stimulating research, development and creativity, which in turn have an impact on commercial and industrial activities. The program aims to train qualified instructors to provide assistance to small and medium establishments to enable them to direct intellectual property assets in a way that helps them earn sufficient profits and benefits with the least costs and risks, he added. King Abdulaziz City for Science and Technology (KACST) has given a lot of attention to enlightening society about the importance of intellectual property and its scientific and financial returns, Dr. Al-Suwayyil said, as part of its support for national trends, contributions to human knowledge and serving society. Gurugbal Singh Jaya, an intellectual property expert, stressed the importance of intellectual property assets management for small and medium establishments, which form 90 percent of the world's companies, and their effect on raising competitiveness and profits. Jaya praised the effective management that enables companies to benefit from their intellectual property in improving their competitiveness and strategic supremacy. He said effective management means more than just protecting a company's inventions, trademarks, drawings, models and copyrights.
