It is one thing to have a great idea but when it comes to protecting the idea from being copied, that can be a challenge.
What is a patent? A patent is a monopoly granted by the federal government to an inventor for a limited period of time to use or license his or her invention. We have been asked time and time again if it is possible to patent a business idea in Nigeria.
The answer to this is a big NO! But don’t get disappointed just yet. Although, you may not be able to patent your startup idea, you can patent an invention. You can get a patent in Nigeria just like any where else even though different rules may apply.
The Difference Between An Idea And An Invention
While an idea is an untested imaginary concept, an invention is the realistic product of your idea. Your invention can be in the form of a process, composition, that has a description, design, features, etc.
For instant, you have an idea for a software that records your body temperature daily to determine your health status. The idea for such an idea can’t be patented if you have not built it or can’t proof that the software can be developed.
Who Is In-Charge?
Patents are issued by The Trademarks, Patents And Designs Registry, Commercial Law Department, Federal Ministry Of Industry, Trade & Investment.
Who Can File A Patent?
Only accredited agents can file a patent on your behalf. Therefore, it is advised that you hired the services of a seasoned certified patent lawyer or firm.
What is Required for Registration?
Your concept has to be unique. In other words, it should not have been patented before. Moreover, you would have a stronger case for a patent if the invention is totally innovative. Every applications for patent has to come with a request for patent. Which has to be signed by the applicant or an agent representative.
The patent application should also contain the names and address of the applicant, a specification requirement. As well as a claim, drawings (of process) and plans, a declaration if any, signed by the inventor, a signed power of attorney or authorization of the agent if the request is made by the agent; the address of the business in Nigeria and the patent fee.
What Is The Duration Of Patent?
In Nigeria, every patent ensures the holder is granted a monopoly for twenty years from the date the patent was filed. Also note that not paying the fixed yearly fees can result to the patent getting canceled. The grace period for the payment of such fees is six (6) months.
Want To Patent Your Invention?
In a bid to file patent for an application we are currently developing, we sort the services of a law firm with experience in patent registration in Nigeria. The process was smooth and affordable. So much so I had to make this recommendation. NLIP Watch helped with all the technicalities involved with our application. I believe they can help with yours. Visit the seasoned lawyers at nlipw.com to discuss your patent today.
Why DJ Cuppy Should Quit Music As An Artist
If you are a Nigerian, you most likely already know who DJ Cuppy is. Ms. Otedola is a Business and Economics graduate who also has a Master’s Degree in Music Business from New York University, USA. She is a renowned Dj and the daughter of Nigerian Businessman, Mr. Femi Otedola.
Many Nigerians got to know Dj Cuppy when she started Djing in Nigeria. Personally, I believe she is a talented Dj and has done well to inspire many upcoming DJs in Africa, regardless of status or ethnic group. However, I strongly believe Dj. Cuppy will make a lot more impact as a music business mogul. That is, instead of just continuing to DJ, produce and perform as an artist, she should consider investing in the industry as a record label owner like the likes of Don Jazzy and Davido.
That is, Dj Cuppy can upgrade her music management and content production business, Red Velvet Music Group to a creative media & entertainment company.
She has the capacity to pull the capital needed to make this happen in a major way. I envision a huge warehouse-like building in Lagos. Partitioned to house a mega music studio, a dance studio, a film studio, and even a music museum. Do you see where this is going?
You were probably expecting me to bash her, right?. But no, this is not one of those – put the person down articles. Not at all. We are not about that life on steadygettingit.com. It’s all about empowering people over here, especially young Nigerians. Now let’s get back to our very own adorable Ms. Cuppy and why she should consider doing more than just singing or djing.
Posterity will smile on her for creating an avenue for a lot more talented individuals in Nigeria to attain limelight. She was able to pull the who is who in society together to raise over 5 billion Naira for her foundation recently. I have no doubt that she can make a record label and a lot more happen. Do you agree? Do you think she has the potential for success as a record label executive? Feel free to share your opinion in the comment section.
Why Youth Empowerment Is Important In Nigeria
In today’s Nigeria, radical investment in youth development in other to boost human capital and the economy is extremely crucial.
As a result, youth empowerment is the most critical long-term investment a nation can embark on for the future of its people in terms of prosperity and quality of life.
Below are some of the reasons why Nigeria should treat youth empowerment as an emergency.
- Youth Empowerment To Fight Poverty
The key to unlocking hidden capacity that can improve the standard of living of the average Nigerian is youth empowerment. Today’s youth will be the ones to lead societal growth or a lack of it in the future.
An empowered youth is freed from the fear of the unknown, insecurities as he or she possesses the necessary knowledge and skills to determine their destinies, as a result creating a continuously improving society. Above all, without empowerment, a generation of potential innovators, investors and gurus will be lost. An individual can only give with he or she has. For instant, an empty cup can not supply another cup with its content.
- The Economic Impact Of Youth Empowerment
Research shows that there is a strong correlation between economic growth and youth empowerment. In other words, possessing better knowledge and skills would have a direct impact on the economy of any country. With a knowledgeable workforce for example, productivity increases, quality of work increases, the quality of goods and services increase. The economy is better for it.
Furthermore, people with better knowledge and skills possess the capacity to earn more from their endeavors. This results in stronger consumer spending power. As one becomes employed, starts a business, and/or experience growth in earnings, his or her ability to purchase home appliances, cars, landed property, technology etc increases. This creates a positive ripple effect on the economy as various industries like auto manufacturing, tech, real estate and many more are directly impacted, leading to a growth in the nation’s GDP.
- The Need for A Long Term Social Network
In a country like Nigeria, where skills is not enough, there is a need to build a long term social network if one is to beat the poverty plague.
Without a support system, an individual is vulnerable to all types of disadvantages one can image. Youth empowerment strengthens connections and collaborations with other members of society, laying the foundation for life long value-added relationships. These relationships are vital to the development of better opportunities for the youth, families and the larger society. Recommendations for a project, a new job or business opportunity is important in Nigeria, making building one’s network more crucial. However, it takes empowerment to be able to build an effective network.
To conclude, the government, cooperate society and well off individuals need to do more to empower the youth. This is important, if they truly believe in the vision of having an advanced society for generations to come.
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