Nigeria Copyright Commission (NCC) has called on Banks and financial institutions to embrace the collateralisation of IP assets to support Small and Medium-Sized Enterprises (SMEs) in the creative sector in order to boost their contribution to the country’s Gross Domestic Product (GDP).
Mr John O. Asein, DG, NCC
Mr John O. Asein, director-general of Nigerian Copyright Commission (NCC), who made this appeal in a statement signed by Mr Vincent Oyesefor, the commission’s director of Public Relations, , noted that like other IP assets, copyright has value, which should be exploited for sustainable national development.
According to him, the commission is prepared to work with relevant agencies and stakeholders to explore this area further.
He added that the NCC would continue to support legitimate SMEs and frown at illegal, unfair or unconscionable business practices.
He said, “SMEs are the backbones of national economies as they deliver goods and services, serve as incubators for innovations and as wellsprings of creativity
“The new Draft Copyright Bill, when eventually passed into law will give impetus to the growth of SMEs by providing adequate protection for them in the digital environment and on the many online platforms”.
He disclosed that the appropriate regulatory solutions are being developed to encourage better licensing practice and aid the effective use of flexibilities to grow copyright-related industries, and the commission would provide safe corridors for copyright works from the point of creation to the market to guarantee.
“The Commission will also be improving the copyright registration system to make it more user-friendly and responsive to the needs of SMEs, taking cognizance of today’s market realities.
The director-general charged industry practitioners to complement the efforts of the commission by paying more attention to the business side of their creative endeavours such as rights clearance, licensing, marketing strategies, rights management.