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Regulatory Process

Contaminated RiverAt 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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