Regulatory Process
At
first glance, the addition of regulations might seem to contradict the
unstructured nature of creativity in innovation. However, rules and
structure provide a practical framework that ensures innovators are
operating on a level playing field, have adequate resources, are acting
ethically and have their work, inventions and creations protected.
Guidelines help to make the process more efficient and protect inventors
from repeating common past mistakes. They ensure there is consistency
between regions and even nations, allowing for a more accurate comparison
of results and achievements. Likewise, if various organizations and
innovators are bound by the same set of regulations, it is easier to
transfer information and engage in a collaborative process.
For governments, regulations make certain that in addition to the
promotion of innovation, the needs and concerns of the public are being
addressed. Regulation provides a degree of security as well, providing a
vehicle for consultation and discussion, and guarantees the process of
innovation remains open to public scrutiny. The regulations protecting
intellectual property help protect the rights of inventors, while also
ensuring that the public benefits from the advances in knowledge created
through innovation.
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