Mental property rights – a key to boosting financial development

In keeping with a latest research revealed by the European Mental Property Workplace (“EUIPO“), Firms that personal and shield their mental property rights (“IP”) Generate 20% extra income per worker than non-IP corporations. The report additional discovered that these corporations (these with mental property) pay their workers on common 19% extra compensation and that the income per worker for corporations that personal IP is on common 55% extra. Scholar.

The report was produced as a part of a joint mission between EUIPO and the European Patent Workplace (“EPO”). As a part of its survey, a complete of 127,200 European corporations had been analyzed in all Member States of the European Union and in several financial sectors.

The report breaks down mental property into patents, emblems and registered designs and divulges that patent-based mental property portfolios create essentially the most worth for companies. The figures for the entire research (evaluating corporations that personal mental property to corporations that don’t personal mental property) learn as follows for the totally different components of mental property:

  • Patents: 36% extra income per worker and 53% larger wages;
  • Registered designs: 32% larger earnings and 30% larger wages; and
  • Manufacturers: 21% larger earnings and 27% larger wages.

The knowledge and communication sector has confirmed to be the most important sector that owns mental property, adopted by manufacturing business.

An fascinating discovering from the report relates particularly to the function of mental property in small and medium-sized enterprises (“SME”) The place the report discovered that lower than 9% of SMEs in Europe personal mental property, however SMEs that personal and function mental property sometimes had 68% larger turnover per worker than those who did didn’t have any.

When publishing the report, Mr. António Campinos, President of the EPO, stated: “The stronger your IPR portfolio, the higher your efficiency. And corporations with IPRs not solely generate extra income, their workers additionally earn extra. The research additional demonstrates that there’s vital untapped potential for SMEs in Europe, because it reveals that they’re those who will profit essentially the most from mental property possession. “

The research once more underscores the intrinsic worth of mental property as an asset class for any group. What units this research other than others is that it examines particular industries and the relative measurement of IP homeowners – all of whom have come to the identical conclusion in regards to the significance of IP.

Whereas the research makes for fascinating learn and benchmarking train, it could be good to have an analogous evaluation for the South African – even African market.

One can’t simply use the EUIPO research as an indicator of South Africa or the massive African market, however what is obvious is that proudly owning and working IP belongings makes companies extra worthwhile. and better wages.

Based mostly on the outcomes for SME homeowners of mental property, it appears pretty apparent that governments ought to think about a transparent technique on how you can stimulate an economic system:

  • Step 1: encourage innovation / creation of mental property;
  • Step 2: Present a framework for the efficient safety of mental property belongings (and implement it successfully); and
  • Step 3: Create an setting for the environment friendly exploitation of mental property belongings for the good thing about companies, workers and society at massive.

If solely coverage growth and implementation had been as simple as 1 – 2 – 3.

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