Baku, FinanceTime.  The protection of Intellectual Property Rights (IPR) is important for Azerbaijan’s economy and for its further growth. The level of protection of IPR is one of the main key performance indicators of the maturity of the local economy and business investment climate of any country. The American Chamber of Commerce in Azerbaijan (AmCham) and its member companies pledge to respect and protect IPR and advocate for improved IPR protection and enforcement in Azerbaijan.

Today, the development of information technologies requires a new review of the principles of intellectual property protection. As the amount of intellectual property grows, consequently, the possibility of violating copyright holders’ interests increases. Facing a new round of technological revolution, countries value innovation as drivers of development, and protection of IPR defends the innovation and enthusiasm of technology professionals. IPR protection is vital in this context and for the protection of the interests of business.

AmCham supports all initiatives taken by public and private bodies aiming to maintain strict protection of IPR, to ensure the rights of all enterprises are safeguarded in accordance with the law, and to build an inviting environment for business and innovation. In its White Papers, AmCham has consistently stated recommendations on combatting IPR infringement and violations, as well as counterfeits, accepting the fact that IPR protection iskey for building a competitive market economy. AmCham is committed to cooperating with the Azerbaijani government and other stakeholders in improving IPR protection in Azerbaijan.