This research critically analyzes the concept of small and medium-sized enterprises (SMEs) and looks at the tax and intellectual property implications and considerations. The aim is to expose how Intellectual Property law can help sustain Small and Medium Sized Enterprises (SMEs) in the marketplace and improve the growth and development of the Nigerian economy through taxation. To achieve these, the research examined the essential roles of Intellectual Property in the growth and development of Small and Medium Sized Enterprises. The rights and remedies to which the owners of Small and Medium Sized Enterprises (SMEs) are entitled, as well as the challenges of Intellectual Property Laws and their corresponding tax liabilities under the relevant pieces of legislation in Nigeria, are considered. This research evaluates the factors contributing to the non-compliance of SMEs with tax obligations. These include complex filing procedures, multiple taxations of SMEs, and a lack of proper enlightenment. The finding reveals that SMEs have performed below expectations due to specific reasons ranging from societal constraints to issues of lack of awareness, instability, and change in the economy. Tax compliance among SMEs in Nigeria is poor. To enhance the growth of Nigerian SMEs, there is a need to explore enlightenment and awareness through the use of intellectual property and taxation.