Fostering Creative Industries Through Intellectual Property: A Path to Economic Growth

By Mayora IP

In a bid to propel Guatemala's economic development and harness the potential of its creative industries, the World Intellectual Property Organization (WIPO) engaged in a Creative Industries Project. This initiative is set to unlock new avenues of growth by recognizing and safeguarding intellectual property within the creative sectors.

On August 10, 2023, representatives from the WIPO and the Ministry of Economy converged in high-level meetings, placing the sector's potential at the forefront of discussions. The goal is to shape an action plan that encompasses comprehensive programs and capacity-building endeavors.

Throughout 2022, the orange economy services -a concept that encompasses a wide range of economic activities based on creativity, culture, and intellectual property- crossed the threshold of USD21 million in exports in Guatemala.

According to the Guatemalan Exporters Association (AGEXPORT), with creativity now standing as a tangible catalyst for development, there has never been a more opportune time for this industry to thrive bolstered by emergent technologies such as artificial intelligence.

AGEXPORT has even created an Orange Economy Commission in 2023 to amplify exports to a spectrum of nations, including the United States, Ireland, Colombia, Honduras, Costa Rica, the Netherlands, and Germany. This global outreach looks to propel Guatemala's creative endeavors onto the international stage.

The creative industries encompass everything from music, photography, and film to computer games, radio, TV, cultural education, advertising, architecture, visual art, crafts, fashion and design, all poised to flourish under the umbrella of intellectual property protection.

In 2017 the WIPO crafted a resource that underscores the significance of IP in the cultural and creative industries. “How to Make a Living in the Creative Industries” is a guide tailored not only for those currently active within these domains but also for individuals contemplating a career within them. Additionally, policymakers, academics, and business support entities navigating this terrain will find this guide to be an indispensable compass.

“The creativity, skill and talent of literary and artistic creators is also their main means of creating wealth and jobs. By compensating and rewarding creators’ effort and creativity, copyright acts as an incentive to continue to create new work. By striking the right balance between the interests of creators and the wider public interest, copyright law aims to foster an environment in which creativity and innovation can flourish,” the booklet states.