Speakers at a discussion on Sunday stressed the need for creating awareness among the businesses and consumers about intellectual property rights to help bring investment and generate employment.
They also pressed for using products from original brands and proper implementation of related laws to attract more investments.
The observations came at a panel discussion on 'Protection for Intellectual Property Rights Brings Investment and Jobs' jointly organized by American Center and Bangladesh Intellectual Property Forum (BIPF) in the city.
The US embassy in Dhaka economic officer Iverson Long and its senior public diplomacy officer Merrie Blocker, American Chamber of Commerce in Bangladesh executive committee member and MasterCard country director Syed Mohammad Kamal, Women Entrepreneurs Network for Development Association (WEND) president Nadia Amin Binte, BIPF founder and executive officer ABM Hamidul Mishbah and Baldha Apparel Limited entrepreneur Farah M Saddha, among others, spoke at the meeting.
In the panel discussion, some participants shared their experience of seeing their products copied and how long the judicial system discouraged them from taking legal actions against wrongdoers.
Counterfeit products are available and people want to copy and utilize the value of branded products as they are famous, said Mr Kamal.
"It is tough to build brand but easy to copy. We have to practise and use original products though they sometimes come at high cost," he suggested.
Citing an example of pirated products that flooded the local music market, he stressed on proper implementation of related laws and making people aware of intellectual property rights.
Mr Misbah of BIPF said they formed the platform in 2011 mainly to create awareness about IPR.
He opined that IP creates employment through innovation, and creation of brands like Microsoft.
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