Patent Strategies for Companies Doing Business in Nigeria

Abstract

In the U.S., and indeed in most parts of the world, many large companies understand that smart investors make decisions whether or not to invest in a company, after carefully considering the company’s technology and conducting extensive due diligence. This due diligence usually entails the determination of what technology the company owns and what technology it does not own. The situation is no different in other regions of the world such as Africa, Asia and South America, where measured steps are being taken to underscore the crucial role of patents in both domestic and international economic development.

This paper will examine the current patent legal system in Nigeria and some of the challenges to the development of patent rights. The paper will also look at the reasons why companies doing business in Nigeria implement patent strategies, the effectiveness or lack thereof of these patent strategies, and steps companies may undertake to further protect their patents and encourage development in emerging technologies.

Keywords: patents, patent strategies, doing business in Nigeria, intellectual property