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Laos launched its updated Intellectual Property (IP) Portal website that empowers businesses to protect their innovations and creativity, fostering a more dynamic and competitive economy. 

The website aims to streamline application processes for entrepreneurs, providing clear guidance on IP rights, according to Lao Economic Daily report on Thursday.

The launch of the IP Portal is a major step forward for Laos' intellectual property ecosystem, by fostering an environment that supports innovation, and creativity, and attracts foreign investment, Xinhua news agency reported.

The IP Portal will play a key role in securing intellectual property rights, encouraging innovation, attracting investment, and spurring economic development.