Intellectual property protected

The Forum of Private Business is calling for small firms’ patent rights to be better protected amid concerns that many cannot afford to sue companies which steal their ideas.
 
In its submission to the Hargreaves Review of intellectual property (IP) the Forum is urging the Government to provide greater protection for small business innovations after complaints that breaches are going unpunished because of the steep costs involved in pursuing them in court.
 
Further, the not-for-profit Forum believes that the high cost of both employment and manufacturing in the UK often leads to innovations being produced under license outside the EU – with significant transfer of knowledge abroad but no control over how it is used.
 
In addition to steep litigation fees, the Forum is concerned that patent costs, the slow process involved in protecting intellectual property, HM Revenue & Custom’s lack of clarity over the use of Research and Development Tax Relief and a lack of support within the UK’s public procurement process are combining to hinder innovation-led growth.
 
Some business owners even fear they are struggling to get overseas patents because foreign governments – particularly in the USA – are more inclined to protect indigenous innovations.
 
According to the Forum’s latest quarterly Referendum survey, 4% of respondents said their growth was being hindered by foreign government support for their overseas competitors and 7% reported that this form of protectionism made existing cash flow problems worse.
 
“Entrepreneurs are the UK’s real innovators and this innovation is one of the key elements that we need to nurture to drive economic recovery and growth,” said Alex Jackman, senior policy adviser at the Forum.

www.fpb.org
0845 612 6266