Out-Law / Your Daily Need-To-Know
In the run-up to World Intellectual Property Day on 26 April, technology law specialists at international law firm Pinsent Masons have warned that UK technology companies do not know how to value their IP and that they are not doing enough to exploit the value of their IP portfolios.
The firm is urging the Government to help raise commercial awareness of IP rights and exploitation. A recommendation in last year's Gowers Review of Intellectual Property was that the Patent Office (now called the UK Intellectual Property Office, following another recommendation of the Gowers Review) should provide comprehensive information on how to register and use IP rights for firms registering with Companies House. Technology lawyers at Pinsent Masons also maintained that technology companies overlook IP issues, such as ownership of IP and any licences, in standard terms and conditions.
Six out of 10 lawyers agreed that the biggest gap in IP knowledge amongst technology clients was the protection of IP rights. This also featured as the highest ranking single biggest IP risk for technology companies.
The results are from a survey conducted in April among Pinsent Masons' 100 technology lawyers, 33 of whom are IP specialists. More than half (52%) said that many tech firms they deal with do not actively police their IP, both in terms of watching competitors and in ensuring that trade marks are not used inappropriately.
The World Intellectual Property Organisation (WIPO) decided in 2000 to designate an annual World IP Day to increase awareness of important IP concepts, including copyright, trade marks, patents, know-how, registered designs and design rights.
Kim Walker, head of Pinsent Masons' intellectual property team, said: "The results of our survey give cause for concern. We regularly advise upon IP issues and often find that even some of the smartest companies are under-informed when it comes to the protection of their intellectual property. We hope to help rectify this problem with our activities on World IP Day and hope that other large law firms will do the same. But the Government is in a position to make a huge difference. We find that US companies frequently have a better feel for the value of their IP and we believe that the UK Government could do more to close that gap. We urge the Government to follow the recommendations in the Gowers Review to give businesses better access to information about IP."
The Gowers Review also called upon the DTI to investigate how best to provide practical IP advice to UK firms operating in foreign markets, in coordination with industry bodies, the Patent Office and UK Trade and Investment.
Pinsent Masons will provide free IP advice on World IP Day. Entrepreneurs or established organisations wanting free help with copyright, trade marks, patents or designs can book a 30-minute appointment with one of their specialist IP lawyers at legal clinics in the firm’s London, Birmingham, Leeds, Manchester, Glasgow and Edinburgh offices. The firm has called on IP specialists at other firms to offer free advice and has made a World IP Day Kit freely available for others' promotions of the day.
The technology lawyers at Pinsent Masons comprise the team behind the award-winning OUT-LAW.COM website that offers 7,000 pages of free information on IP and IT legal issues. A special edition of OUT-LAW Radio, the firm's weekly podcast, will be released on 26th April that features an exclusive interview with Andrew Gowers who led last year's review into the UK's intellectual property framework.
Pinsent Masons is also hosting a free, IP-themed OUT-LAW Breakfast Seminar on 26th April in its London and Glasgow offices. The event, ‘Protecting your name on the net’, will be hosted in Birmingham, Leeds, Manchester and Edinburgh on other days in April.
