FEATURES INTERNATIONAL SOCIETY GIST SPORTS GIST WORLD INTELLECTUAL PROPERTY DAY: REACH FOR GOLD; SPORTS AND IP RIGHTS By Admin Posted on April 26, 2019 3 min read 0 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Michael Olaleye This year’s World Intellectual Property Day campaign/ theme – Reach for Gold takes a closer look inside the world of sports. It explores how innovation, creativity and the IP rights that encourage and protect them support the development of sport and its enjoyment around the world. Sports have become a multi-billion dollar global industry – one that generates investment in facilities (from sports stadia to broadcasting networks), employs millions of people around the world, and entertains many more. Business relationships built on IP rights help to secure the economic value of sports. This, in turn, stimulates growth of the industry by enabling sporting organizations to finance the events we savor, and by providing the means to promote sports development at the grassroots. We look at how sports businesses use patents and designs to foster the development of new sports technologies, materials, training, and equipment to help improve athletic performance and engage fans worldwide. We find out how trademarks and branding maximize commercial revenue from sponsorship, merchandising and licensing agreements. These revenues offset the cost of organizing world class events, such as the Olympic Games and World Cup series, and ensure that the value and integrity of these spectacular events are safeguarded. We look at how sports personalities are able to generate earnings from sponsorship deals with brand owners and by leveraging their own brands as athletes. We explore how broadcasting rights underpin the relationship between sport and television and other media that bring fans ever closer to sporting action. We zoom in on some of the game-changing technological advances in robotics and artificial intelligence that are driving change in all sports fields. This year’s campaign is an opportunity to celebrate our sporting heroes, and all the people around the world who are innovating behind the scenes to boost sports’ performance and its global appeal.