Intellectual Property (IP) rights provide protection to businesses that have developed new products. Our research shows nine per cent of small businesses have been the victim of IP theft on more than one occasion. Nearly a third (29 per cent) of those say they’re unable to resolve the matter because of the complicated and expensive legal process.
Action FSB have taken
We’re lobbying Government for the introduction of a small claims track in the Patents County Court.
- We want IP claims of up to £15,000 to be included in this track. The current small claims limit is £10,000.
- We published our Key to the Knowledge Economy report in May 2015.
We believe protecting IP is key to supporting small, innovative businesses, especially those reliant on research and development as their main sources of income. We have welcomed recent reforms and modernisation to the IP regime (including the Hargreaves Review) in the UK. Swifter and more easily accessible compensation for IP infringement is vital, if the UK is to lead innovation and provide creative services.