Thriving economies have adapted innovation as a particular tool in expanding their frontiers of expertise, productivity and sustainability. Therefore, protection of Intellectual Property Rights (IPR) plays a role in advancing business and economy, science and technology and enhancing literary, artistic and cultural creativity.
However, in the perspective of Bangladesh, innovation and creativity remains under constant threat since piracy and counterfeit reigns at large, affecting individuals, especially IP right-holders. Although start-ups and technological entrepreneurs are on the rise, a substantial representation of IPR in our GDP is lagging behind. According to The Global Competitiveness Report 2014-2015, Bangladesh, in terms of Intellectual Property protection, positions itself at 133 out of 144 countries.
Over the time, it has been observed that the lack of awareness among the stakeholders and beneficiaries is the predominant reason behind such feeble implementation and ineffective enforcement of IPR laws within Bangladesh.