The recently updated 2017 Intellectual Property Roadmap is the ICC’s essential tool in defining policy and outlining guidance to assist businesses who require intellectual property for their global innovation.
Global Innovation Effects on IP
Advancing technologies have given smaller SME businesses a greater opportunity to operate globally, giving them the ability to widen their network and export across other to countries, which beforehand may have not been so attainable.
As innovation has become more collaborative across countries, so has the need to streamline intellectual property policy. Previously individual countries would have produced their own policies and under very different circumstances – with some running a tighter operation than others. Nowadays countries are looking to share experiences and seek a more streamlined approach across the world, that is more mainstream and that suits businesses globally from one country to another.
Although on paper it may sound like a great idea, in practice it has proven to be more challenging for governments to implement, especially when certain countries may have a larger interest in one area over another. According to a recent article by the ICC (International Chamber of Commerce), ‘‘This creates formidable challenges for managing IP assets and enforcing IP rights in multiple jurisdictions with varying approaches to IP rights ‘’.
However, overall this has to be a positive step for Intellectual Property and for global innovation businesses. Industries who use design innovation and manufacturing techniques such 3D printing and additive manufacturing often require IP protection to produce products. These businesses welcome the idea of a single approach so that they may seek opportunities to produce and sell products in other countries with clear guidelines and with the certainty that they are working within legislation.
Does your business require intellectual property for design, patents and additive manufacturing? Here at Crendon Insurance we provide intellectual property insurance to businesses operating in the global innovation industry. To find out more about how we could support your business through intellectual property and protecting patents, please contact our team for a confidential review.
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