Nigerian Institution of Estate Surveyors and Valuers (NIESV) has asked its members to boost their knowledge on intellectual property valuation as the sector is largely untapped.
In a statement issued by the chairman of NIESV’s Business Assets and Intellectual Property Valuation Group, Lekan Akinwunmi, he said intellectual property had been found to be one of the key instruments for growing the economy.
Akinwunmi said, “While the opportunities are enormous, each business, regardless of its size, is focused on a core product or service that differentiates itself from other enterprises and competitors.
“Protecting an idea is protecting a business and the role that intellectual property rights ownership plays cannot be overestimated in seeing the future of small-and-medium-size enterprises.
“As property valuers, we represent the most rational professional group to ascertain intellectual property value for consistency and in harmonising ‘tone of value’ between tangible and intangible assets of a business.”
Akinwunmi who had the support of the NIESV’s president, Emma Wike, to organise the training, said it was intended to bring intellectual property to the fore as a resource that could be used, managed and commercialised to provide economic and social environmental benefits for government at all levels, the community and business.