The International Olympic Committee (IOC) and the World Intellectual Property Organisation (WIPO) are partnering in the area of sport-related intellectual property (IP) rights. The two organizations have signed a framework cooperation agreement to promote the use and management of IP in sports and establish a legal framework for collaboration. The agreement was signed at the Olympic House in Lausanne – the IOC headquarters – on June 13. Under the terms of the agreement, IOC and WIPO will embark on joint initiatives and programs that reinforce the importance of IP rights in sports.
WIPO, headquartered in Geneva, is the intergovernmental organization and specialized United Nations agency that leads the development of a balanced and effective global IP ecosystem. The organization serves as a world reference source for IP information. It shapes international IP rules, offers global services to protect IP, provides technical infrastructure and facilitates cooperation programs.
The IOC uses its IP rights to generate revenues through the sale of media rights through The Olympic Partners (TOP) program. As a non-profit organization, the IOC redistributes 90 percent of the revenues it generates throughout the Olympic Movement, thereby supporting the staging of the Olympic Games and promoting sports development globally. The funds generated by IP provide “critical support” to Olympic Games organizing committees, National Olympic Committees, international federations and other sports organizations, the IOC said in its statement.
