The exploitation of the IP system as an important and powerful tool for wealth creation andÂ poverty reduction is at the centre of the vision and strategy of WIPO.
Modern legislation and effective administrative infrastructures for the acquisition of IP rightsÂ are important steps towards IP protection. But the acquisition of IP rights is of little economicÂ value if these rights cannot be enforced effectively. The credibility of the IP system depends toÂ a considerable extent on the enforceability of IP rights conferred thereby. Well-functioning IPÂ enforcement mechanisms are the best means to limit the number of violations of IP rights and toÂ ensure that right holders and the society as a whole can reap the benefits from the IP system.