The IOC has entered a partnership with WIPO ©IOC

The International Olympic Committee (IOC) and World Intellectual Property Organisation (WIPO) have signed an agreement to promote the use and management of intellectual property in sport and to establish a legal framework for further collaboration between the pair.

The IOC and WIPO are aiming to foster common goals within their projects and embark on joint initiatives that "reinforce the importance of IP rights in sport."

"The IOC strategically uses its IP rights to generate revenue through the sale of media rights to the Olympic Games and marketing rights through The Olympic Partners (TOP) programme," read an IOC statement.

"As a non-profit organisation, the IOC then redistributes 90 per cent of the revenue it generates throughout the Olympic Movement, in order to support the staging of the Olympic Games and to promote the worldwide development of sport. 

"These IP-generated funds provide critical support to Organising Committees for the Olympic Games, National Olympic Committees, International Federations and other sports organisations."

The Olympic Rings is one of the most recognisable logos in the world, something which the IOC is eager to protect ©Getty Images
The Olympic Rings is one of the most recognisable logos in the world, something which the IOC is eager to protect ©Getty Images

WIPO serves as the global forum for IP services and information with the mission of promoting innovation and creativity for a more sustainable future.

It is a United Nations agency and helps Governments and businesses to utilise the benefits of intellectual property by shaping global rules for it.

The IOC has been threatened with legal action for the alleged illegitimate use of intellectual property.

The International Boxing Association made the claims after the IOC invited its officials to serve at Paris 2024 Olympic Games qualifiers and the final tournaments.