7 News Belize

If You Own It, Patent It
posted (June 4, 2018)
Saying that something is yours is very different from having that ownership on paper. That is why the Belize Intellectual Property Agency encourages entrepreneurs, artists among other inventors to patent their creations. Today Belipo hosted a one day workshop on the benefits of the Patent Cooperation Treaty. It was held at the Biltmore and we dropped by to find out more.

Olabimpe Akinkuolie, Deputy Registrar, BELIPO
"The Patent Cooperation treaty is predominantly geared towards patent. So the moment you submit your application which can be done at the Belize Intellectual Property office or through the International Bureau in Geneva the process, the application goes through a process of an international search done by the international search authority whereby a search will be conducted to see if there is any existing state of art or prior art before to see if the invention is new and after that is goes through the process of written opinion within the search authority whereby they examine if it is a patent that can be granted and falls within the requirements."

"The topics we spoke about is the advantages for using such a system and how does it help an inventor navigate through this complex world."

"So this PCT and what is being focused on is the process that is available to a local inventor who wants to make use of this international system, the advantages of using this system you get 20 years of exclusive ownership of your patent so with 20 years it becomes a revenue generation income for you as an inventor, you can not only license it, you can assign it you can negotiate with the University's to use your inventions so there is so much in terms of revenue that comes from the use of registering your patent."

Belize signed unto this treaty in the year 2000.

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