The countries of Central America and the Caribbean maintain a positive attitude towards their economies and intellectual property, despite lagging behind other parts of the world and advancing unevenly.

As their economies grow, interest in intellectual property and its development will also increase.

Asked about this, Etienne Sanz De Acedo, CEO of the International Trademark Association (INTA), said: “Everyone understands the importance of brands and designs, due to their commercial aspect, but it is more difficult to understand the relevance of patents in those countries that are more dedicated to services than to industrial or technological production, such as those in Central America and the Caribbean.”

“Generally, where there is more industrial production, more inventions and innovations arise,” he added.

According to the most recent Creativity Ranking of the World Intellectual Property Organization (WIPO), Costa Rica is best positioned in this indicator in this region.

In that regard, Sanz De Acedo considered that Costa Rica could become an “engine” for that region. “Costa Rica should consider being a technological and innovation hub for Central America and the Caribbean. It could do so by taking advantage of artificial intelligence as an opportunity, with a pool of developers and solutions for companies that do not necessarily have to be in its territory. This is because consulting services in technological development can go to the whole world,” said the executive.

Finally, the CEO of INTA highlighted the importance of industry ministries and their respective governments developing a better definition of where they want to position their countries, promoting policies that encourage companies to improve their technologies, and further supporting universities and research centers. “This will mean that, over time, there will be more utility models and patents,” he concluded.