Savvy young innovators make a positive impact with their intellectual property
[Sponsored Article]
• Young entrepreneurs harness intellectual property (IP) rights to transform their ideas into reality and achieve market success
Hong Kong is in an excellent position to build a better future based on innovation with most of the 650,000 young people aged 18 to 35 (about 20 per cent of the population) regarding the protection of IP rights as necessary.
“Young people think out of the box, are creative, innovative and flexible. A study conducted by our department in 2020 revealed that over three-quarters of the young people surveyed considered the protection of IP rights helpful to the development of the local creative industries (78.4 per cent) and would attract foreign investments to Hong Kong (78.2 per cent),” says Director of Intellectual Property David Wong. Their awareness of IP – trade marks, patents, registered designs and copyright – bodes well for their ideas to be crystallised and become the intangible assets of an enterprise that can be managed and commercialised to realise the economic value of IP. “ They can use IP rights to build stronger, more competitive and resilient businesses. For a start, getting trade mark protection boosts brand image and reputation, and helps them generate income through licensing.”
