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Saturday, 30th January 2016

Making Life Better by Supporting UK Creativity and Innovation

Source: Intellectual Property Office via GOV.UK

From The Role of Intellectual Property:

Many sectors are dependent on their IP rights (e.g. pharmaceuticals, creative industries, consumer brands and technology companies), IP is not confined to niche areas, but touches almost every part of the economy. This means that managing and protecting a business’ IP proactively will need to become an automatic element of doing business in the future, not a specialised area for a limited number of firms. This is not just true of large corporations: SMEs will also need to be IP savvy. Firms which manage their intellectual property rights (IPR) effectively, treating it with the same care and attention they would devote to other areas of their balance sheet, tend to have significantly better chances of survival and growth: in 2010, IPR intensive industries generated 27% of UK employment and 37% of UK GDP. IP also has a role to play in addressing the UK’s productivity challenge: the use of patents and trade marks is associated with better creation, transfer and use of knowledge and higher firm productivity.

In terms of investment the role of ideas is increasingly important. Investment in intangible assets has outstripped investment in tangible assets every year since 2001, and the trend is of a widening gap. In 2011, UK firms invested an estimated £126 billion in knowledge assets, compared to £88 billion in tangible assets. Half of that investment was protected by intellectual property rights. Only the US has a similar intensity of intangible investment.

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Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

More articles by Adrian Janes »

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