World IP Day to celebrate 'can do' attitude of women inventors, entrepreneurs

World Intellectual Property Day—always celebrated on April 26—is sponsored by the World Intellectual Property Organization (WIPO) to help raise public awareness of the importance of intellectual property in our everyday lives—and the impact that patents, trademarks, industrial designs, copyrights and trade secrets have in encouraging innovation and creativity throughout the world. Michael Stewart, managing partner of intellectual property law firm Fishman Stewart PLLC in Troy, has been recognized for devoting time and effort in promoting the initial World IP Day programs throughout the United States.

Reflecting on this year’s theme, “Women and IP: Accelerating Innovation and Creativity,” Stewart embraces the far-reaching creative contributions that women throughout the world have made through their ingenuity and hard work, but endorses greater support to help them overcome challenges in accessing IP resources to protect their assets and thrive.

“While women make up about half of the world’s population, there is an ‘innovation gender gap’ between who is generating creative endeavors versus who is participating in the IP protection system,” Stewart said. “Barriers such as lack of IP knowledge, limited access to IP networks and mentors, negative bias, and inadequate financial resources mean that too few women globally are benefitting from what intellectual property has to offer.”

In forming this year’s World IP Day theme, WIPO noted that:

• An estimated 16.2% of inventors named in international patent applications were women in 2022, according to WIPO data released in March 2023

• At current rates, parity among Patent Cooperation Treaty (PCT)-listed inventors will be reached in 2064

• Narrowing the gender participation gap is of utmost importance to meet the UN's Sustainable Development Goal #5 of achieving gender equality and empower all
women and girls

Stewart believes that tapping into the vast pool of talented women creators could mean more technologies that work for everyone, new woman-led businesses, and stronger economic development and recovery to build back better—and intellectual property is the conduit to make that happen.

“One only has to look at history to realize that women such as Marie Curie, Hedy Lamarr, Frida Kahlo and Coco Chanel have been driving scientific breakthroughs, setting new creative trends, building businesses and transforming our world for centuries,” Stewart said. “That’s why it’s so important to encourage women to not only realize that there is great opportunity to transform their creativity into reality, but also educate them on the process of intellectual property and how intellectual property rights, when meeting established criteria, can legally protect their innovative works and enhance business success.”

From the rise of Canva by tech entrepreneur, CEO and co-founder Melanie Perkins, to Özlem Türeci, physician, scientist and co-founder of BioNTech, which in 2020 developed the first mRNA vaccine to be used against COVID-19, and even the ability of amateur athletes like gymnast Olivia Dunne to monetize their likenesses, images, and/or names without restriction from the NCAA, creativity continues to play an ever-increasing role in all of our day-to-day lives—and women can be an important piece of that process.

 “IP rights can provide each and every researcher, inventor, entrepreneur, designer, artist and student with the key tools necessary to advance their creations and turn them into intellectual capital—capital that can promote both social change and economic gain,” Stewart said. “This year’s World IP Day is a reminder to creators of their value in the marketplace and to society that intellectual property is all-inclusive.”

Stewart also urges women founders to learn more about the United States Patent Office’s new Empowering Women Entrepreneurship (WE) initiative, designed to encourage women business owners to understand and protect the value of their intellectual property. To learn more about WE resources, visit www.uspto.gov/initiatives/we.