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{
    "id": 720145,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/720145/?format=api",
    "text_counter": 176,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Pukose",
    "speaker_title": "",
    "speaker": {
        "id": 1458,
        "legal_name": "Robert Pukose",
        "slug": "robert-pukose"
    },
    "content": "Hon. Temporary Deputy Speaker, I beg to second. This is a very important Bill. It introduces intellectual property as collateral to be recognised by banks and other lending institutions, a phenomenon that was previously unheard of in our country. Although we have seen shylocks doing the same by providing credit in an informal sector, this is a very important Bill that will provide them with a framework to operate legally. This is a situation where the beneficiaries are going to be basically the micro and medium enterprises. This is in line with Vision 2030. We have individuals who have moveable properties in their shops, farms where they have cows, sheep, goats or maize and one feels that this is something you can use as collateral. If you go to a shop, you find that people have huge stock of commodities; electronic or others. If this person wants to improve his business, he can use it as collateral to obtain credit from banks. In respect to intellectual property, we hope this will be extended to banks and other lending institutions which will then be expected to consider loan applicants who present them as security. The Bill reinforces our constitutional obligations to support and promote intellectual property rights of Kenyans. It further enables recognition and respect for intellectual property by investors who may find an incentive to duly register their intellectual property. The law will also widen the scope of business and entrepreneurship in the country. It will enable the creation of linkages between financial lenders and entrepreneurs, especially the small and micro business enterprises. This is very good. I hope this House will support it and soon it will become law. With those few remarks, I beg to second the Bill."
}