SporTT to raise awareness on intellectual property rights

The Sports Company of TT (SporTT) has entered into a three-year memorandum of understanding (MOU) with the TT Intellectual Property Office (TTIPO), Office of the Attorney General and Ministry of Legal Affairs to raise awareness of IP among national governing bodies (NGBs) for sport.

They will also provide access to resources and publications on sport and intellectual property rights (IPR), among other things.

According to a statement issued on Tuesday, both offices will cooperate on enhancing the capacity of sport-serving organisations and individuals to maximise on the benefits that will flow from the management of IPR assets, which in turn, should increase levels of innovation in the field locally.

“SporTT and TTIPO will also collaborate on a special project through the World Intellectual Property Organisation, geared towards leveraging intellectual property in the sport business ecosystem,” the statement said.

The agencies have worked together in the past and have now formalised and strengthened these ties on the heels of the successful hosting of the Commonwealth Youth Games in TT in August.

“In addition to the work with athletes and sporting organisations, the TTIPO and SporTT have committed to delving deeper into the role IP plays in the monetisation of physical assets and infrastructure and explore models to properly exploit this potential.”

IP and IPR form part of a rapidly developing global market sector in many industries, including sport, in which billions of dollars are exchanged in the development of IP and protection of the relevant IPRs.

IP underpins the global sports business industry and as such, protection of those rights is a critical exercise as TT seeks to create a thriving and sustainable sporting ecosystem.

From broadcast rights to athlete image rights, IP pervades several aspects of the sporting industry and is a key requirement to create revenue streams.

SporTT was established in 2004 as a limited liability, special-interest company geared towards the management, administration, and programming of sport, which is primarily conducted through NGBs as a means of maintaining oversight and non-interference in the operations of these non-profit organisations.

SporTT is also responsible for the construction and operational maintenance of sporting facilities throughout TT.

Additionally, the TTIPO was created in 1997 pursuant to Section 3 of the Patents Act. It is a department of the Office of the Attorney General and Ministry of Legal Affairs, responsible for the administration of all laws with respect to intellectual property IP in TT and the granting of IP rights.