Showbiz and sports personalities have been urged to take deliberate steps to protect their intellectual property rights and secure their financial futures long after their active careers have ended.

According to the CEO of LYB Sports & Entertainment, Listowell Yesu Bukarson, many entertainers and athletes fail to fully appreciate the long-term value of their intellectual property, resulting in financial hardship after they pass the peak of their careers.

He noted that while sporting and entertainment careers may be relatively short, intellectual property can continue to generate income for decades if properly protected and managed.

He described it as unfortunate that some celebrated personalities who once enjoyed fame and success eventually struggle financially, even though they could still be benefiting from royalties and other intellectual property rights.

Explaining the importance of intellectual property protection at an event in Columbus, Ohio, to launch LYB Sports & Entertainment, Mr Bukarson said creators automatically own the rights to their original works and should understand the legal protections available to them.

“Any and every creativity becomes your intellectual property. And you have rights over your creativity. And the law gives you that power to feed off your creativity.

"You have intellectual property rights over your music for as long as they live on this planet. And 70 years after they die,” he explained.

Using the late Ghanaian highlife legend Daddy Lumba as an example, he stressed that unauthorised use of an artist's work constitutes a violation of intellectual property rights.

“For instance, in the Daddy Lumba example, the law says all the songs he made, once he was alive, were all his property. And anybody who does anything with the music without recourse to Lumba and his management will be infringing upon his intellectual property,” he said.

Mr Bukarson further explained that intellectual property rights continue to exist even after the creator's death, with ownership passing to beneficiaries or the creator's estate for a legally stipulated period.

“Now that he is dead, the law says his estate, whoever inherited him, has rights over the music for the next 70 years. The question we are asking is, how many of our creative industry people understand these provisions in the law?”

Mr Bukarson announced that LYB will be supporting creative talents and sports personalities by providing the expertise and resources needed to protect and maximise the value of their intellectual property.

He said the initiative is intended to help artistes, athletes and other creatives prevent unauthorised exploitation of their works and ensure they receive the financial benefits due them throughout their careers and beyond.

“Now this dream is coming from the position where people’s intellectual property rights have been abused. So, we are saying, we are here as a consortium; if you identify with us, we are going to protect your intellectual property rights.”

Headquartered in Columbus, Ohio, with offices in Accra, Ghana, and London, UK, LYB Sports & Entertainment is a sports and entertainment company dedicated to developing talent, creating exceptional experiences, and inspiring communities.

Through innovation, excellence, and strategic partnerships, the firm is working to shape the future of sports and entertainment across Africa and beyond.

Mr Bukarson disclosed that plans are underway to hold the LYB Sports & Entertainment Investment Summit, an initiative aimed at bringing together stakeholders from the sports, entertainment and business sectors to explore investment opportunities, promote intellectual property protection, and equip creatives and athletes with the knowledge and resources needed to build sustainable careers.

Present at the event were former Ghanaian football stars Charles Asampong Banie Taylor, Nana Ahin Duah, Emmanuel Osei Kufour, Aziz Ansah, Yussif Chibsah, Sadick Adams, and Samad Oppong, among others.