After one of the most challenging events our country has ever gone through there is a clear appetite from every corner of the country to build back better and put in place an economic framework that is strong, resilient, and capable of exponential growth.
Despite a supportive policy environment for IP for large and small firms alike, CBI Economics analysis points to areas of development which could help drive further value from R&D and help UK firms turn research into commercial outputs. The new report – Prosperity Pending – notes the UK’s IP system (policy and regulatory environment) is the second strongest in the world, according to the U.S. Chamber’s Global IP Centre – but its patent system is not working to its full potential.
The analysis finds that IP policy needs to be integrated with policy supporting businesses at the earlier stages of the R&D process, with incentives tailored to changing business need as they progress through these stages. The UK could also stand to gain from expanding the current Patent Box to include other forms of IP and provide alternative models of obtaining IP rights for SMEs
