Why does WIPO support the transfer of technology and the promotion of Inventions and innovation?
One of the WIPO’s main objectives, among other important activities, is to promote the recognition of intellectual property throughout the world. Intellectual property right is the protection of a variety of human creations, including inventions. Inventions propel technological development, and this in turn enhances economic growth as desired by WIPO’s members States. Effective patent protection provides a necessary, although not the only, condition for technology transfer transactions. Indeed, if a recipient of invention-related technology is located in a country where that invention is not patented, the supplier of the technology would need to rely on purely contractual arrangements to guarantee non-disclosure and non-use of the invention by third parties. Such arrangements may present considerable commercial risks for technology suppliers, greater than in circumstances where the transfer transaction can be linked to a patent that gives protection against unauthorized exploitation by
