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Inventors are only among the long list of individuals who can safeguard intellectual property and are not the sole beneficiary of such protections. Despite sounding like an obvious reminder from the UK’s patenting authority, this fact was overlooked by almost a fifth of business types in its latest awareness survey. Nineteen per cent wrongly said that IP protection was reserved for inventors, meaning a significant portion of firms think the IPO is helpful only to the next Trevor Baylis. Speaking to the Financial Times about the finding, the inventor of the clockwork radio said it proved the need for IP to be taught as a core subject in UK schools. “We spend millions of pounds on children’s education but we don’t teach them how to protect their ideas,” he said, adding that IP was really our “most valuable asset”. The survey did show that business is overwhelmingly aware of the value tied up in IP, as 84 per cent said investing in innovation was crucial to a company’s success. And while only a third had actually made such an investment themselves, 22 per cent of these said it was the best decision they had made, the survey reportedly found Complacency on the part of individuals, such as thinking their idea, product or service will succeed on its own merit, may explain why the others failed to pay for protection. The Intellectual Property Office said the positive experience of those business people who did invest will hopefully serve as a wake up call to those who didn’t. It warned that people who shun the patenting process, regardless of their motivations, run the risk of both the time and money spent on creating their venture going to waste. Aug 24, 2009 Email this article Printer friendly page Previous Page
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