‘Banks should accept intellectual assets as collateral’

The Intellectual Property Institute (IP) has called on the organised financial sector in Nigeria to recognise and accept intellectual property as collateral for granting loans to Small and Medium Enterprises (SMEs).

This was the main thrust of a symposium marking this year’s edition of the world intellectual property day celebration.

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The virtual event was attended by stakeholders in the creative industry, intellectual property professionals, entrepreneurs and other stakeholders. The event was supported by Trumann Rockwood Solicitors, Borrow To Own Concept Limited, (Abuja’s No. 1 pay-small-small retail company, Caya Productions (an award-winning boutique audio post-production & recording studio in Wuse 2, Abuja) and ProEdge Events. The institute said owners of intellectual properties in the creative and other industries are major contributors to the growth of Nigeria’s economy.