New measures have been announced by the Government to help small and medium sized commercial properties (SMEs) protect their intellectual property and grow their business.
The package forms part of the Government’s ‘Innovation and Research Strategy for Growth’, which sets out plans to enhance growth through substantial investment in research and innovation across the UK.
Key actions announced last week by the Intellectual Property Office (IPO) include:
- An online register of advisors to help commercial property businesses find the right advisor for them quickly and easily.
- A new online business advisor training tool that will give advisors the skills and information they need to help commercial property businesses protect the value of their intellectual property.
- Offering free intellectual property audits to commercial property businesses through routes such as the Technology Strategy Board.
- Improving existing schemes such as mediation to provide a more effective dispute resolution service that can potentially prevent costly legal cases
- Consulting commercial property businesses, business advisors and IP specialists about how lower cost IP legal and commercial advice can be provided.
Baroness Wilcox, Minister for Intellectual Property, stated: “The intellectual property of small and medium-sized businesses is vital to their future economic growth and success. Their innovative ideas and creations can be worth billions of pounds so it is essential that we provide them with the support they need to protect and enforce their rights.”
“The package of measures outlined will allow the Intellectual Property Office to build even stronger links with businesses, giving them the confidence to trade both in the UK and abroad,” Baroness Wilcox added.
Actions the Intellectual Property Office (IPO) hava already taken to support SMEs following the Hargreaves Review include:
- Launching ‘Ipsum’, an online patent service that could save UK businesses nearly £100,000 per year. It eliminates the cost to commercial property businesses of requesting patent documents, instead they will now be available for free online;
- Announcing that a small claims process for cases under £5,000 will be introduced at the Patents County Court for cases involving trademarks, copyright and designs.
- Re-running the Fast Forward Competition which encourages and High Education Institutions (HEIs) Public Sector Research Establishments and High Education Institutions (PSREs) to work together with commercial property businesses to share innovation, research and intellectual property (IP). £76,000 is available for winning bids to invest in research and knowledge transfer ventures that have the potential to form new companies or services; and
- Supporting the Technology Strategy Board to establish an IP strategy for the new technology and innovation centres.
The Hargreaves Review of Intellectual Property and Growth suggested that the Intellectual Property Office ought to produce plans to improve the accessibility of the IP system to smaller commercial property companies. The Government acknowledged these recommendations and is now in the process of applying them.
*The Government’s Innovation and Research Strategy for Growth outlines the Governments strategies to improve incentives for commercial property businesses to innovate, especially SMEs. The Government is putting research and innovation at the heart of its growth programme through better investment and increased collaboration making sure that the UK has a promising future.
