Owing to the trends and challenges of the intellectual property in global economy, Nigeria has signed several international treaties and conventions in order to create a high-speed development channels, protect intellectual property as intangible business assets, and protect trademarks and product quality. Nigeria is a member of the Paris Convention for the Protection of Industrial Property (Lisbon version), Berne Convention and Universal Copyright Convention. It joined the World Intellectual Property Organization (WIPO) in 1995.