CBI: UK IP fundamental to growth

The UK's world-class Intellectual Property (IP) framework must be maintained to support continuing investment and growth, the Confederation of British Industry says.

The lobbying group says that the IP framework is fundamental to supporting the UK’s world-class IP-intensive sectors, including pharmaceuticals, aerospace, commercial goods, and the creative industries.

To help drive future growth, the Intellectual Property Office (IPO) must provide more targeted support to small and medium-sized enterprises (SMEs), to enable them to commercialise their ideas swiftly, adds the organisation.

This should include a fast-track SME patent scheme, better guidance on protecting and using IP, and improved access to finance for smaller IP-rich firms.

John Cridland, CBI Director-General, says, ‘The government must set out a clear and unambiguous aspiration to make the UK the best place to create, develop and exploit IP.

‘Any significant change or weakening of the existing IP regime, particularly erosion of the copyright laws, could undermine our creative industries, and be a big risk. We must play to our natural strengths by supporting the UK’s world-class creative and other IP-rich industries, which are fundamental to growth.’

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