What is the Full Form of WIPO?

The full form of WIPO is the World Intellectual Property Organization. In the year 1967, WIPO was established. WIPO is a specialized agency of the United Nations dedicated to promoting and protecting intellectual property (IP) around the globe. Moreover, its headquarters is in Geneva and the current Director-General is Daren Tang with 193 member states. Additionally, WIPO has a significant part in fostering innovation and creativity by providing a framework for the international protection of intellectual property rights (IPO).

What is the Purpose of WIPO?

The purpose of WIPO is to promote global innovation and creativity. Its main objective is to ensure the universal respect and protection of intellectual property rights. WIPO does so by fostering international cooperation, harmonizing policies, and striking a balance between creators, innovators, and the public. Moreover, WIPO aims to create an environment where intellectual property serves as a catalyst for economic, social, and cultural development.

Also Read: What is the Full Form of GATT?

What are the 4 Types of Intellectual Property?

The 4 Types of Intellectual Property are as follows:

1. Patents: Protect inventions and discoveries by granting exclusive rights to the inventor for a limited period.
2. Trademarks: They safeguard distinctive signs like logos and brand names by distinguishing products or services in the marketplace.
3. Copyrights: It protects the expression of ideas in literary, artistic, and scientific works further giving creators exclusive rights to their creations.
4. Trade Secrets: In addition, it covers confidential business information by providing a competitive advantage to businesses that keep certain information secret.

Also Read: What is the Full Form of FTA?

What are the Benefits of WIPO?

The Benefits of WIPO are: 

• Innovation and Economic Growth: WIPO provides a system for the protection of intellectual property rights. It stimulates innovation and creativity as well as contributes to economic growth and technological advancement.
• Global Cooperation: Additionally, WIPO facilitates collaboration among countries thus creating a unified approach to intellectual property protection that benefits creators and innovators worldwide.
• Dispute Resolution: WIPO offers services for the resolution of intellectual property disputes by helping parties reach fair and efficient solutions without resorting to lengthy legal battles.
• Capacity Building: WIPO assists developing countries in building their capacity to protect and manage intellectual property, hence fostering a more inclusive global intellectual property system.

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