RETHINKING INTELLECTUAL PROPERTY PROTECTION AND BUSINESS GROWTH IN NIGERIA: A CONCEPTUAL AND THEORETICAL EXAMINATION

Abstract

Intellectual property protection is increasingly recognized as a critical driver of innovation and sustainable business growth, particularly in developing economies such as Nigeria. This paper examines the theoretical linkages between intellectual property rights (IPRs) and firm performance, integrating insights from Schumpeterian Innovation Theory, the Knowledge-Based View, and Dynamic Capabilities Theory. It highlights how robust IP policies stimulate creativity, safeguard organizational knowledge, and enhance adaptive capabilities, while weak enforcement undermines innovation, competitiveness, and investment confidence. Sector-specific implications across technology, entertainment, and manufacturing industries are discussed, alongside challenges posed by institutional gaps and limited enforcement capacity. The study provides a conceptual framework linking IP protection to business growth, offering actionable insights for policymakers, innovators, and SMEs. It contributes theoretically by demonstrating how IP functions as both a legal mechanism and a strategic resource, enabling firms to achieve sustained competitive advantage in Nigeria’s evolving economic landscape.