Project Abstract

This research entitled “The Role of Intellectual Property (IP) Law in the Growth of Small and Medium Enterprises (SMEs) in Nigeria” was untaken to find out how IP laws can help SMEs thrive in the market place in the growth and development of Nigerian as it has done in other developed and developing countries; and if not, why and also to identify possible solutions. In pursuit of the above, the research examined the role of IP plays in the growth of SMEs. In the Nigerian economy, the characteristics of a typical Nigerian SMEs, investigated the performance of SMEs in the Nigeria economy, problems and prospects. It also recommended remedial measures to be taken to ensure a vibrant SME in Nigeria. The study of investigated the challenges of IP laws as it affects SMEs in Nigeria. The major findings of this research include; SMEs have played and continue to play significant role in the growth and development of many economies. In the case of Nigeria, SMEs have performed below expectation due to certain constraints ranging from our environment to our attitude and instability of government and change in government policies. SMEs, armed with IP rights such as trademark, patent, industrial design protection would play the crucial role of engine of growth, development and industrialization, wealth creation, poverty eradication, and employment creation.

Project Overview

INTRODUCTION

1.1       BACKGROUND OF THE STUDY.

The world over, entrepreneurship and small and medium enterprises (SMEs) have

provided effective means of greater employment and improving the standard of living for people.

SMEs are regarded as the engine of economic growth and development in most developing

countries. The contributions of the SMEs in industrial sector to the Nigeria’s Gross Domestic

Product (GDP) are valued at about 46% thereby making it the second largest contributor to the

nations GDP after the oil sector.1 SMEs are also perceived as the key to Nigeria’s economic

growth, poverty alleviation and employment generation but their unimpressive performance in

employment generation in recent year has generated a lot of research interests on their challenges

and prospects.2

It is in recognition of the immense contribution of the SMEs to national devel