Changes in businesses choices.
Not so long ago, a majority of business investments focused on physical things like premises and machinery. Now, we can see that investment is increasingly in intangible goods like ideas, creativity, and digital innovation. Most agree on the fact that future growth will be found in knowledge intensive industries dependent on Intellectual property (IP) rights. And those industries are aiming to create innovation in which a strong IP system is key.
That’s why we feel IP systems are necessary to encourage creative, intellectual endeavors in the public and economic interest. As stated by the World Intellectual Property Organization (WIPO), “Innovation is a human force that knows no limits. It turns problems into progress. It pushes the boundaries of possibility, creating unprecedented new capabilities. World Intellectual Property Day 2017 celebrates that creative force.” Through IP rights, inventors, artists, and entrepreneurs can have their original works protected in the marketplace, allowing greater investments for greater rewards. All that also contributes to make the economy grow: each country with strong IP rights shows more full-time researchers, have more scientific publications and published books, invest more in R&D, and have greater rates of entrepreneurship.
« I believe that innovation will continue to be a vital driver of global growth and economic prosperity. »
Lucy Neville-Rolfe, author of Intellectual Property (Unjustified Threats) Bill (HL)
Protection secure creativity, creative minds permit innovation.
IP is useful in every stage of an innovation project and the application of several types of IP rights can be very strategic for your business growth. IP such as trade secrets, utility models, patents, trademarks, geographical indications, industrial designs, layout designs of integrated circuits, copyright and related rights, are relevant for protecting, managing, exploiting and leveraging both basic and improvement innovations. Supporting IP as a primary right for enterprise is supporting the right to enhancing economic development.
Intellectual Property Rights : an expanding market.
Today we see a raise in the IPR , this expansion is linked to three main elements:
- Information: a good information flow between potential buyers and sellers permit to create a market.
- Knowledge valuation: the ability to establish the value of IP right plays a key role.
- Contractualisation: Open Innovation leads to the emergence of an IPR market by the need to use IP contracts for safe exchanges. Establishing contracts: to be able to elaborate tailor-made contracts is essential.
Technology transfer, a good exemple.
This is especially visible when it comes to technology transfer, because businesses need to know who owns relevant tech. For example, with a poor IP strategy, buyers looking to purchase technology may not return strong results and creators may not connect with buyers for their inventions. This type of problem now tends to be avoided through simple tools and strategy on each side: The first step is to collect information, because the lack of information restrains technology transfer. By using patents as an information vector, sellers and buyers easily find each other. Plus, some tools have been created to simplify your hunt for information. Tools used for the identification of relevant technology can be:
- Data collections
- Profile identification
- Patent mapping and visualization
- Patent rating
And more, some enterprises propose these tools for analysis so that you get the information you need, ensuring that when you search to acquire something or even if you develop something you can be sure to have the best position on the market possible.