IP protection is key to success
Article Date: Mar 11 2008Infringement of intellectual property rights is the top concern for owner-managers of fast-growing UK businesses, a survey has found. Over one third of respondents (38 per cent) admitted they were worried about losing their competitive edge due to IP theft and imitation.
The research, conducted by Business XL in association with leading international law firm Eversheds, found that more than half (53 per cent) of respondents said investment in IP provides a direct business benefit, while 55 per cent claimed to understand the IP rights of competitors. Fifteen per cent expected to be involved in an intellectual dispute within the next 12 months.
Simon Crossley, IP partner at Eversheds, says: ‘As value in other asset classes stagnates or even falls post-credit crunch, intellectual property rights are performing strongly by driving business advantage, protecting innovation and creativity, and preventing copycat and “me too” competition.
‘While UK Plc tends to be dispute shy compared to the US, this survey shows that a significant number of businesses expect IP disputes to occur. How these businesses deal with IP disputes could determine how 2008 turns out.’
The survey, entitled Growth Insights 2008, sought the opinion of over 120 CEOs of UK businesses with turnover below £100 million.
Key findings
38% admitted concern about their IT systems and security
47% said they were overburdened by employment legislation
37% were worried about data protection
52% are prioritising recruitment during the coming year
Eversheds is an international law firm offering a range of business, corporate and commercial services.
