Harnessing Intellectual Property Rights for Innovation, Development and Economic Transformation in Least Developed Countries (Commonwealth Secretariat and UNCTAD)

"This report, which combines key messages and insights from two in-depth papers, by the United Nations Conference on Trade and Development (UNCTAD) (2023) and Pengelly (2024), explores how LDCs can develop IP regimes to accelerate innovation, inclusive growth and structural transformation. It examines the economic rationale for strategic IP protection in LDCs and explores practical ways in which LDCs can unlock IP-related benefits and sequence the development of IP regimes, tailored to their local needs, structural characteristics and stages of development, to support innovation and development in both the formal and the informal economies. It explores various forms of IP protection, particularly copyrights; GIs; industrial designs; patents; trademarks; utility models; and the protection of genetic resources, traditional knowledge, cultural expressions and folklore. Using these more strategically could help businesses in LDCs develop competitive advantages, while also encouraging innovation, fostering the development of productive capacities and boosting trade and investment."