On April 26th, the Patent Office of the Republic of Latvia handed the World Intellectual Property Office`s (WIPO) IP Enterprise Trophy to company “LATIMA”, LLC, which already owns number of European patents.

In the 1960`s scientist Aina Muceniece discovered oncolytic virus “Rigvir”, “LATIMA”, LLC, is one of the holding company of “Rigvir” and its pharmaceutical production facilitator.

The head of the Business Development department of “LATIMA”, LLC, Mr Karlis Urbans emphasized, “A patent is a secure foundation to our business and its safety, because of the very high proportion of intellectual investment that this field requires. Therefore, this award is an assessment of our hard and diligent work. We are glad that the quality of our work has been noticed and that we can serve as an example to others”.

The objective of the WIPO IP Enterprise Trophy is to encourage businesses, including small and medium-sized enterprises, and institutions to make successful use of the IP system in their business activities. It is also intended to recognize companies that have undertaken activities to build public respect for IP.

Candidates eligible for the WIPO IP Trophy are those that make outstanding use of the IP system by, for example: exploiting IP information in support of innovative commercial strategies; executing an innovative marketing strategy based on an effective trademark; developing successful strategies for the commercialization of university-based innovation. Developing public campaigns to promote appreciation of their IP assets and encouraging creative and inventive activity among staff are also some of the examples of outstanding use of the IP system.

More information on the WIPO award eligibility guidlines are available here. The WIPO award reaffirms the potential of Latvian businesses, which allows development of new and innovative products that can be successfully offered to various national markets.