As intellectual property is becoming a major instrument for creating wealth, its protection is becoming increasingly important. The effectiveness of the system of intellectual property protection depends on the mass awareness of the system itself and of its advantages, said President Peter Stoyanov at the opening of an conference organized by World Intellectual Property Organization (WIPO). According to him, intellectual property protection was not up to standard in the last 50 years. Now, however, all serious institutions and politicians are aware that given Bulgaria`s considerable scientific and technical potential and young people known for their adaptability to the contemporary aspects of the computer revolution, intellectual property protection can become an important prerequisite for the country`s success, said Stoyanov. Bulgaria has been a member of the WIPO and its predecessors since 1921 and has signed almost all WIPO treaties. WIPO Director General Kamil Idris addressed the participants in the conference, stressing that an effective intellectual property system is needed to promote the Bulgarian economy and financial stability. The participants are 68 WIPO members from 34 countries and 102 members of the National Intellectual Property Association of Bulgaria.