According to a new report by Intellectual Property Enterprise Court (IPEC), there has been a greater number of SME’s making claims for their business in terms of Intellectual Property Rights.
In 2017 claims rose by 8% to 367 on the previous year which totalled 339 and overall, claims over the last 5 years have seen a rise of 28% according to law firm Hugh James.
Whilst manufacturing companies seem to still be the main sector for making these claims, it seems that it is the technology companies that are driving this rise. Prepared to do whatever it takes to protect their IP, the rise in technology companies taking this step could be due to a number of reasons.
First of all, technology is growing at such a fast rate. On a daily basis they are on the cutting edge of new design and development and are leading new markets and processes. Secondly, as technology merges with the manufacturing industry in terms of internet of things and 3D printing, these companies are growing with Intellectual Property Rights at the forefront of their development process. Finally, technology companies are not averse to researching online and finding the correct resources, this also infiltrates into Intellectual Property Rights. It is second nature for these companies to trawl websites to find the right information and ensure that they are protected and know their rights throughout their development.
If you are a manufacturing company who is embracing new technology in terms of internet of things or 3D printing or a technology firm who is looking for IP Insurance to cover your latest patent or research and development, then Crendon Insurance Ltd could help your business. With a number of years’ experience in this field we create bespoke policies to suit your needs which cover many areas of Intellectual Property Rights and those associated to this field, please contact us for further information or visit our Intellectual Property Insurance page.
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