Every year on 26 April the World Intellectual Property Organization (WIPO) celebrates the role that intellectual property rights (in particular patents, trade marks, designs and copyright) play in incentivising innovation and creativity.
This year's theme is "Reach for Gold: IP and Sports" and celebrates the positive role that intellectual property plays in building commercial relationships at various levels throughout the sporting industry.
From a branding perspective, trade marks enable athletes and sporting organisations to leverage and monetise their brands through sponsorship agreements, merchandising and endorsement deals.
Additionally, intellectual property is pivotal in protecting and encouraging new technologies (e.g. IoT, wearable devices and big data). These sophisticated technologies transform the sporting experience for athletes and spectators alike enabling the analysis of previously unquantifiable aspects of athletic performances.