Resource Control has become an important political and economic lexicon
in modern geo political realities. In the emerging economies of the world, most
especially in Africa, resource control has accounted for numerous armed
conflicts, political instability, and economic stagnation.
Resources in emerging economies like Nigeria are primarily ascribed to
natural & physical properties like oil and gas, agricultural products, gold,
diamond and like products that are discoverable fro under the bowels of the
earth.
The attraction to tangible properties like oil, commonly called the “black
gold” in Nigeria has resulted in the neglect of other resources which could
compete, if not out-rank oil in terms of wealth generation. Intellectual
property rights are resources that Nigerians have neglected or unaware of as a
property. It is an intangible property that has generated economic growth and
wealth in counties like United States, India, Japan, France and United Kingdom.
In the United States, Hollywood has contributed immensely to the nation’s
GDP. In India, Bollywood has contributed greatly to the nations economy. It is
the strength of its intellectual property regime that has propel these
entertainment capitals of the world to become economic and cultural model, that
most of the world desire to emulate. The copyrights, patent, trademark &
publicity rights policies of these countries have been a motivating factor for
the economic growth of their entertainment industry.