FBN tasks entrepreneurs on protection of intellectual property

First Bank

Independent Non-Executive Director of First Bank Nigeria (FBN), Cecilia Akintomide, has advised creative artistes to protect their ideas and innovations against intellectual theft. 

Speaking during the panel session at First Bank FirstGem second anniversary, which is a community for women in entrepreneurship, she said that creativity has to be protected if the innovator places proper value on it. 

Akintomide said: “Learn to protect your ideas by using the patent, copyright or any other law that applies to the solution you have because if you don’t protect it, someone will take it and run with it.”She also harped on the relevance of seeking information to take the right decision in business especially in investment.

Adding that in-depth research and asking relevant questions from lawyers, financial experts and journals, she said there is need for details to properly guided innovators.

Managing Director/CEO, First Bank Nigeria Ltd and Subsidiaries, Dr. Adesola Adeduntan, said FirstGem is the bank’s first female-focused product designed for both corporate and entrepreneurial women. 

“We have identified the gaps in the lives of women both in corporate Nigeria and in the entrepreneurial space, and as a Bank we are committed to filling the gaps by providing the tools required for their empowerment,” he added.He noted that it is more than creating an account dedicated solely to the women folk, but also provides a total lifestyle support for discerning women to meet their economic needs and aspirations.

Adeduntan said: “For over 124 years of our existence, we have focused on providing excellent financial services to meet the needs of our esteemed customers. We continue to improve on our products and also create new ones that suit their specific financial needs. I urge every woman to find out more about how to leverage this unique product”.

Meanwhile, Author and financial expert, Ugwu Arese, said entrepreneurs must understand their value for strategic pricing and should constantly invest in themselves to have a competitive edge. 

Arese added that small and medium scale enterprises should set profit goals and diligent enough to separate business income from their salary for proper planning and budgeting.

On taking actionable steps to achieve successful investment, Treasurer, World Bank, Arunma Oteh, said understanding the different instruments of finance and what they really mean before making deal is key to the success of any enterprise. 

“Some SMEs shrink after making mistakes but I advise that you learn, re-strategize and take the next steps. Also, let there be a written document of whatever investment you are going into”, she added.

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