Posted on Monday 8 July 2019 by Cruickshank Intellectual Property
In a report entitled ‘High Growth Firms and Intellectual Property Rights’ conducted by both the European Patents Office (EPO) and the European Union Intellectual Property Office (EUIPO) it found that SME’s that have intellectual property protection experience higher growth than those who don’t.
European companies make up 99% of EU businesses and produce 57% of GDP. In order to grow further in this expansive marketplace and beyond, Intellectual Property Rights (IPR) play a crucial role in their progression and development. Protection in the form of Patents, Trade Marks and Design rights allows these SME’s to leverage their intangible assets by attracting potential investors and allow the opportunity to establish licence agreements on their technology.
Expected growth for SME’s with Intellectual Property Protection
This joint report found that SME’s that have filed at least one IPR are 21% more likely to experience a subsequent growth period and 10% more likely to become a High Growth Firm (HGF).
SME’s are 33% more likely to become a HGF if they use bundles of IP rights in the form of trade marks, patents and designs rather than one single IP category.
In high tech industries the possibility of high growth is 110% higher for SME’s that have filed one or more European patents.
The report can be found here if you would like to find out more.
Supporting SME’s in accessing the IP system
This report serves to highlight once again the importance innovative companies must place on their intangible assets. By obtaining the IP protection available, SME’s can further drive their growth and continue to develop in their own marketplace and internationally. These kind of analysis and reports released regularly by the EPO and the EUIPO are a reminder of their support in helping businesses and innovators alike to be aware of the rights available and how the IP system is one which can enable their evolution and future growth. Likewise, here at Cruickshank we continue to encourage our clients to speak with us regarding their IP strategy where we can advise them accordingly on the best direction for their business.
If you have an idea that requires protecting or simply need an expert in European IP Law, then please get in touch with us today.
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