Engr Chris Emeka Azubogu’s Bill (The Innovation Bill) faces public Hearing today

Press release

Later today, Thursday 18th March, a Public Hearing will be conducted on one of my bills, “The Innovation Bill”: ‘A bill for an Act to provide for Establishment and Management of a National Innovation Agency for the Facilitation of Development, Improvements, Promotion, Coordination, Exploitation, Commercialisation and Regulations of Research Outputs, Discoveries, Innovations, and Inventions, to Enrich Research and Innovation in the Economic System; and for Related Matters (HB. 872).
The Bill seeks to establish an Agency whose main purpose will be to manage the National Innovation Ecosystem for Nigeria.
The Agency functions to provide guidance and advisories to government, research and educational institutions, business communities, organised private sector, and other stakeholders on any matters relating to or affecting the commercial application of research and innovation products, scientific knowledge, or technology.
In other words, the Agency’s main duty will be to protect, exploit and ensure commercial application of intellectual property and other products derived from research and improvements in Scientific Knowledge.
National Innovation Eco-System means, the diverse nature of participants and resources including organizations, institutions, and people in the country that coexist and function as a unit which is necessary for innovation;
Innovation includes:
(i) Any idea or knowledge in whatever form which brings about changes in the form of product, service, or process resulting in a positive impact to the economy, business, public service delivery system, social well-being, or the environment;
(ii) the application in practice of creative new ideas, as well as the processes by which new products, businesses, and services enter the market;
(iii) a product, process, service, or idea which is novel;
(iv) improved use of a new product, service, or method in the industry, business, or society;
Acquisition means the process by which the rights to use, employ and exploit technology to improve or renew processes, products, or services are obtained;
Commercial application, in relation to any knowledge or technology, means the application, utilization, or exploitation of such knowledge or technology in the manufacture, production, sale, distribution, or provision of goods or services in the course of any trade, business, enterprise or profession, and includes any business or commercial activity that is necessary for or related to the promotion, development or growth of any such trade, business, enterprise or profession;
Technology means the application of knowledge to meet the goals, goods, and services for sustainable development.
Intellectual Property includes copyright, patent, trademark, integrated circuit layout design, geographical indication, and industrial design whether registered or otherwise and manifested or stored in any form whatsoever;
Invention means new and useful art, process, the machine, manufacture or composition of matter, living or inanimate, or any invention or discovery which is or may be patentable or otherwise protectable or any novel variety of plant which is or may be protectable;
I appreciate my colleagues for their support, mostly; The Honourable speaker Rt Hon. Femi Gbajabiamila.
Engr Chris Emeka Azubogu
Media Team

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