UK IP regime the ‘best in the world’
Posted in | Nov 22, 2013
The intellectual property regime provided in the UK is the ‘best in the world’. This is according to the latest Global Intellectual Property Index (GIPI) report completed by Taylor Wessing. The report provides a comprehensive assessment of 36 separate jurisdictions worldwide, ranking them based on the ability to obtain, exploit and enforce certain intellectual property rights.
The UK ranked first for both trade mark and copyright, ranked second for patents and came fifth for designs leading to a ranking of first in the combined list. Specific praise was given to the UKIPO for the services it provides for small businesses.
Intellectual Property Minister Lord Younger had the following comments on the report:
"I am delighted that the UK has reclaimed the top spot of the highly respected Global IP Index rankings.
"This report confirms the UK's world-leading position in the IP environment and underlines the UK's strength as the best location for innovative businesses.”
Management of IP assets is becoming of greater importance to businesses. The majority (over 60%) of those asked indicated that they are spending more time dealing with their IP matters than in the previous three years. However, only 48% said they are spending more money on IP.
The report additionally found that there is increasing belief that current IP laws are out of date and in need of reform. In total, 68% of those asked felt current laws are out of date, an increase from 61% in the previous GIPI report published in May 2011. Further advances in technology, in particular the development of 3D printing technology, looks likely to increase the need for major IP reform.
The report, published on 12 November 2013, is the fourth report to be published following the launch of GIPI in May 2008.
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