BRICS on cooperation in intellectual property

In 2001 the economist Jim O'Neill came with the term BRIC in a study related to global economy. The acronym BRIC represented the 4 countries which at the time were considered to be of same newly advanced economic development: i.e. of Brazil, Russia, India and China. However, in 2011 in the third summit meeting, BRIC was known as BRICS as to represent the addition of South Africa.

The now established BRICS met this week during the General Assembly of the World Intellectual Property Organization (WIPO). Representatives from all 5 countries got together to discuss a new goal: “to expand the cooperation between the countries in the area of IP.” The meeting which took place in Geneva, Switzerland was attended and supported by the Director General of WIPO, Francis Gurry, and it is said to “generate cooperation actions and periodic seminars for discussion of issues of common interest.”

 Source INPI.