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The contribution of intellectual property law to Nigeria’s small and medium enterprise (SME) growth

The contribution of intellectual property law to Nigeria’s small and medium enterprise (SME) growth

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ABSTR

This y, which was conducted under the title “The Role of Intellectual Property () Law in the Growth of Small and Medium Enterprises (SMEs) in Nigeria,” was carried out with the goal of discovering how intellectual property laws can assist SMEs in thriving in the market place in the growth and development of Nigeria, as it has done in other developed and developing countries; and if they cannot, determining the reasons why and also determining possible solutions. In order to achieve the goals stated above, the y investigated the impact intellectual property has on the expansion of small and medium-sized businesses. In the economy of Nigeria, the features of a typical Nigerian small and medium-sized enterprise (SME) were explored, along with the performance of SMEs in the economy of Nigeria, challenges, and opportunities. In addition to this, it suggested corrective actions that have to be performed in order to make sure that SMEs in Nigeria thrive. The research looked on the issues that intellectual property rules provide for small and medium-sized businesses in Nigeria. The most important takeaways from this y are that small and medium-sized businesses (SMEs) have played and continue to play an important role in the expansion and development of many economies. In the case of Nigeria, the performance of small and medium-sized enterprises (SMEs) has been below expectations because of certain constraints. These constraints range from our environment to our attitude, as well as the instability of the and the change in policies implemented by the . Armed with intellectual property rights such as trademarks, patents, and design protection, small and medium-sized enterprises (SMEs) would play a crucial role as the engine of growth, development, and ization, as well as the creation of wealth, the elimination of poverty, and new employment opportunities.

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND OF THE .

The increase of entrepreneurship and small and medium businesses (SMEs) can be seen all over the globe.

offered efficient ways of increasing employment and raising people’s standards of life to a higher level.

In the majority of developing countries, small and medium-sized businesses are recognized as the primary driver of economic expansion and development.

countries. The contributions made by small and medium-sized enterprises (SMEs) in Nigeria’s sector to the country’s gross domestic product

Its contributions to the Gross Domestic Product (GDP), which are estimated at around 46%, make it the second greatest contributor to the

GDP of countries when the oil industry has been removed.

1 Small and medium-sized enterprises are often regarded as the country of Nigeria’s economic

growth, the reduction of poverty, and the creation of job opportunities; yet, their lackluster success in

In recent s, the issue of job creation has sparked a great deal of academic interest on its associated difficulties.

and future possibilities2

This is in acknowledgement of the significant contribution made by SMEs to the growth and development of the country.

 

The contribution of intellectual property law to Nigeria’s small and medium enterprise (SME) growth

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