Jimmy Devins (Sligo-North Leitrim, Fianna Fail)

I thank the Leas-Chathaoirleach and am delighted to be in the Seanad. In this opening statement I wish to set out for the Seanad the context for the Government's approach to intellectual property, IP, protection, to identify some important actors and factors which shape its arrangements in this area and to point to the main measures which are in place in the various areas of IP protection.

The concept of intellectual property covers a wide range of creations of the human mind from the inventions, symbols and designs used in industry to literary and artistic works such as novels, paintings and films. Over the centuries, various societies came to recognise that it was in the public interest to recognise these as being the property of the people who created them and, consequently, the wider modern concept of intellectual property rights became more widely used. Today, intellectual property rights consist of concrete protections such as patents on inventions, trademarks and industrial designs, as well as copyright on artistic works such as books, films, music and paintings.

IP is of growing importance in the global economy. In practice, it means that through innovation, good quality design, effective branding and top quality production, one can sell products at a premium price without having to compete purely on the basis of price alone. However, our intellectual property must be protected to ensure we can convert the fruits of our research into saleable products, processes and services and secure comparative advantage, thereby moving up the value chain. Ireland's future prosperity depends on being able to so do.