STUDENT NAMES & REGISTRATION NUMBERS : Shabour Banda H190420Y

Denzel Chiuseni H190672R

Tafadzwa Govere H190677E
Clayton Sibanda H190275A
Michael Meuka H190
Estain Makaudze H190816J
Marshall Makuti H190397C

DEGREE PROGRAMME : B TECH IN INFORMATION SECURITY AND ASSUARANCE

COURSE : TECHNOPRENEURSHIP 1 HIT110

ASSIGNMENT NUMBER : TWO (2)

LECTURER : MR J SIMUKA

DUE DATE : 16 SEPTEMBER 2019

Intellectual Property Rights (IPRs) have the ability to drive the economy of any particular
country in a positive direction. With the four major forms of intellectual property rights being
Patents being types of intellectual property that provide for the right of the owner to exclude
others, normally for twenty years, from making, selling, using and importing an invention,
Copyrights being intellectual property rights that are used to protect images, words, product
packaging, label and the product itself, Trade Secrets being information that is not publicly
known and reasonably ascertainable. It assures its owner a competitive advantage and
Trademarks being the name of a product associated with a service or product. In order for
Zimbabwe to achieve a status of having an upper middle economy by 2030 intellectual property
rights must be effectively and aggressively used to ensure a so transition from current state to the
desired destination by 2030. As a Less Economically Developed Country (LEDC) with an
agriculture driven economy, Zimbabwe must put into action IPRs that have direct influence over
the agricultural sector.

A massive deployment of broader Intellectual Property Rights (IPRs) within the Zimbabwean
economy will take the country a step further towards the attainment of an upper middle economy
by 2030 by empowering various firms and businesses to monetize their businesses. The
International Camber of Commerce (ICC) (2012 pg13) suggested that “Intellectual property
protection helps firm monetize their innovations and grow.”Companies are likely to use
Interllectual property rights to assist in the company’s development, value addition of products,
and protection of exclusive products or services the company offers. The availability of
copyrighted, patented or trademarked inventions will most definitely allow the company to
venture into collaborations in which they licence to use the intellectually protected property.

The use of Interllectual Property Rights has the ability to cause international technology transfer
and this can help Zimbabwe revolutionalize its industries as well as the agricultural sector and
this will result in an increase in exports thus leading to the attainment of an upper middle
economy by 2030. The effective use of patents has the ability to cause such a transfer. The
World Intellectual Property Organisation (WIPO) (2004 pg165) suggested that “An equitable
and modernized patent system, by providing recognition and material benefits to the inventor,
constitutes an incentive for inventiveness and innovative activity. It also creates a favourable
climate for the transfer of technology by means of the security it provides for the patentee.”
Arora (2009 pg 47) suggest that “Xu et al (2005) carried out a similar study of international
technology diffusion through trade and patenting in a sample of 48 countries for the period 1980-
2000. They used GinartePark index to measure strength of patent protection together with actual
patenting data from WIPO, and found that rich countries benefit from domestic technology and
foreign technology embodied in imported capital goods; middle-income countries enjoy
technology spillovers from foreign patents(patents filed in the country by foreigners) and
imported capital goods; developing countries benefit from foreign patents.”

The use of Intellectual Property such as copyrights, patents or trade secrets within the current
Zimbabwean economic setup in has the ability to increase the market value of company
products. Increase in market value will result in products being able to compete on an
international scale and this will cause the country’s imports to increase. The International
Chamber of Commerce (ICC) (2012 pg19) suggested that “Strong trademarks can contribute
substantially to a firm’s intangible assets and market value.”

An upper middle economy by 2030 can be achieved in Zimbabwe through introduction and
usage of Intellectual property within the small and medium enterprises. As a growing economy
Zimbabwe’s industrial sector is characterized by small and medium enterprises so in order to
drive the economy forward particular attention has to be given to these enterprises. The
International Chamber of Commerce (ICC) (2012 pg19) suggested that “The key to innovation at
times of crisis is incentivisation. Lack of IPR (Intellectual Property Rights) can be fatal to SMEs,
who are the main driver of our economy and who, according to many studies outperform larger
firms in terms of technology importance of their innovations.”

The Zimbabwean Government can increase the incentive being offered to patented agricultural
inventions. Through this there is likely to be encouragement to explore and research more in the
agricultural sector such that there is a positive progression in the country’s economy. Patents
facilitate recognition of an individual’s creativity and give incentive which encourages
innovation which in turn enhances the quality of life.
Reference List
ICC, 2010, Intellectual Property Powerhouse for Economic Growth, International Intellectual
Property and Technology Consulting, London
WIPO, 2004, WIPO Intellectual Property Handbook: Policy, Law and Use
WIPO, January 2009, The Economics of Intellectual Property: Suggestions for Further Research
in Developing Countries and Countries with Economies in Transitions