Authors: Solomon O. Okunade; Ahmed S. Alimi; Abiodun S. Olayiwola
Addresses: Department of Economics, College of Arts, Management and Social Sciences, Chrisland University, Abeokuta, Nigeria ' Federal Ministry of Women Affairs, Abuja, Nigeria ' Department of Economics, College of Arts, Management and Social Sciences, Chrisland University, Abeokuta, Nigeria
Abstract: The incidence of infringement and violation of intellectual property rights (IPRs) especially in the nature of counterfeiting and piracy has been on the increase in Nigeria; and has deprived many producers and industrialists of the benefits of their creativity. This study explores how IPRs protection influences industrial development in Nigeria using quarterly data spanning 2007Q2 and 2019Q1. The result of autoregressive distributed lag model reveals that IPRs protection exerts negative effects on industrial development due to weak enforcement and non-compliance with industry related IPRs laws which discourage individuals and firms to develop new commercialisable inventions and innovations. Based on this finding, we conclude that IPRs protection cannot significantly improved the prospects of industrial development if not properly enforced with total compliance in Nigeria. Therefore, we recommend that government should strengthen IPRs laws with formidable policies that would create incentives for firm-level innovations/inventions through knowledge creation, adequate funding for R&D in Nigeria.
Keywords: intellectual property right; IPR; protection; industrial development; Nigeria.
International Journal of Intellectual Property Management, 2023 Vol.13 No.1, pp.78 - 100
Received: 06 Sep 2021
Accepted: 27 Jan 2022
Published online: 17 Feb 2023 *