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Jakarta Post

Protection of property rights leads to economic growth

  • Yuafanda Kholfi Hartono
    Yuafanda Kholfi Hartono

    Master of Public Policy candidate in School of Public Affairs, American University Washington DC

PREMIUM
Jakarta   /   Tue, December 10, 2019   /  10:09 am
Protection of property rights leads to economic growth High awareness of intellectual property rights (IPR) will reduce unfair competition since IP owners will be protected; no one else could use their product without their permission if they registered their IP. This would encourage the growth of creative economies and increase investor trust. (JP/R. Berto Wedhatama)

In October, my colleagues and I participated in intellectual property rights (IPR) training in Seoul and Daejeon, South Korea. We had briefings on counterfeit items sent in small packages entering the country through airports, as cited by the Trade-Related Intellectual Property Rights Protection Association (TIPA). We also visited the Korean Intellectual Property Office (KIPO) in Daejeon and learned how the Korean Customs Service (KCS) protected IPR to support fair competition in business, and how its work had influenced law enforcement in dealing with IPR violations. I then realized how South Korea had transformed to become among the world’s economic powers through its successful IPR protection. As a member of the World Trade Organization, South Korea includes IPR protection in its national law. And it works; based on the United States Chamber of Commerce’s 2019 Global In...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.