Government commends IP for small and medium enterprises.

Govt commends IP for small and medium enterprises.

The government has encouraged small and medium-sized enterprises (SMEs) to register intellectual property (IP), saying such a move would seamlessly attract financing for their business.

The government also says such a move would cushion SMEs against the effects in the event that the business entities become insolvent.

The World Intellectual Property Organization (WIPO) refers to IP as creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.

First Deputy Prime Minister made Gen Moses Ali made the call on Tuesday at the Fourth Insolvency Conference organized by Uganda Registration Services Bureau (URSB).

Ali said the effects of COVID-19 were a clear reminder that businesses need standard features.